Tuesday, February 16, 2016

Abramovich buys 24% stake of the First Channel … – Yahoo Finance Spain

Moscow, 16 February (EFE) .- The Russian billionaire Roman Abramovich has bought 24 percent of shares of the First Channel of Russian public television, of largest audience in the country, local media said Tuesday.

Abramovich, who lives in London, bought all the shares of the company ORT-KB, hitherto owned by five companies based in Cyprus, known paradise Russian tax for large fortunes.

Recently, the Russian government passed a law limiting to 20% the percentage of shares under foreign control in the media.

Now, Abramovich has the third block of shares in the First Channel after the Agency of State Property (38.9%) and Rastrkom-2002 (25%).

Russian President Vladimir Putin has urged major capital tax havens to leave and return to Russian territory now that the national economy is in a recession

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