Billionaire Usmanov Spurns IPO Proceeds for Grip on Technology

Billionaire Usmanov Spurns IPO Proceeds for Grip on Technology

Simon Dawson/Bloomberg

Alisher Usmanov didn’t receive a cent from the $1.7 billion London share sale of his mobile operator OAO MegaFon , nor did he pocket a dime from the $1 billion initial public offering of his Internet company Mail.ru Group Ltd. two years ago.