Mubadala Says It Brought RDIF Into Telegram Bond Stake
- Kremlin fund said acquired minority stake in Mubadala purchase
- Telegram says ‘wouldn’t be open to any transaction’ with RDIF
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Abu Dhabi‘s Mubadala Investment Co. said the Russian Direct Investment Fund participated in its deal to buy convertible bonds of Telegram, even as the fiercely independent messaging app said it doesn’t want the Kremlin-controlled entity as an investor.
Russian-born founder Pavel Durov took Telegram to Dubai several years ago after being forced to sell his stake in a social network in Russia to a Kremlin-friendly billionaire in 2014. He later faced down efforts by Russian regulators to block the new app.