Pursuits
Billionaire Usmanov Moves Assets to Russia on Putin’s Call
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Billionaire Alisher Usmanov’s USM Holdings Ltd. said it handed controlling stakes in its Russian companies to local units as President Vladimir Putin urges the so-called de-offshorization of the economy.
The controlling stakes in wireless operator OAO MegaFon and iron-ore producer Metalloinvest Holding Co, previously owned by overseas units, are now held by Russia-registered OOO AF Telekom and OOO USM Metalloinvest respectively, USM said in an e-mailed statement.