Usmanov Plan to Control VKontakte Said to Be Rebuffed by UCP
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United Capital Partners agreed to acquire 48 percent of VKontakte from the co-founders of Russia’s largest social network, rebuffing efforts by billionaire Alisher Usmanov to gain control of the company, said two people familiar with the matter.
Chief Executive Officer Pavel Durov will retain a 12 percent stake in VKontakte after the fund’s acquisition from co-founders Vyacheslav Mirilashvili and Lev Leviev, the people said yesterday. They asked not to be identified before an announcement and declined to put a value on the deal.