Putin Allies Said to Plan to Wrest Vedomosti From WSJ, FT
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Businessmen close to President Vladimir Putin are preparing to acquire Vedomosti, the largest Russian newspaper outside the Kremlin’s control, three people familiar with the matter said.
Putin signed a law yesterday capping foreign holdings in media at 20 percent, meaning the owners of the Wall Street Journal and Financial Times, co-founders of the newspaper, must cut or sell their 33 percent stakes by the end of 2016. The third owner, Sanoma Oyj, is in talks to sell its Russian assets.