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Name | Symbol | Market | Type |
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VK Company Ltd (CE) | USOTC:MLRYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0.9011 | 0.00 | 01:00:00 |
By Olga Razumovskaya
MOSCOW--Russian billionaire Alisher Usmanov, who was an early investor in Facebook Inc. (FB), bought about $100 million of shares in Apple Inc. (AAPL), Mr. Usmanov's USM Holdings said Tuesday.
News of Mr. Usmanov's Apple stake comes as the U.S. technology leader has seen its stock fall 38% since its September high. It could not be confirmed when and at what price Mr. Usmanov had purchased the Apple shares, and USM Holdings had no further comment regarding the purchase.
USM Holdings is a limited liability company based in the British Virgin Islands. It was created in 2012 to consolidate various investments and holdings of Mr. Usmanov, which are "the result of more than 30 years of his investment and business development activities," USM Holdings said on its website. It holds assets in technology, media, telecommucniations and mining.
The shareholders of USM Holdings are Mr. Usmanov, Vladimir Skoch and Farhad Moshiri. Their economic interests are divided 60%, 30% and 10%, respectively, while Mr. Usmanov holds 100% of the voting rights with respect to USM Holdings.
Mr. Usmanov, who is close to the Kremlin, is a native of Uzbekistan and had spent six years in an Uzbekistan prison in the 1980s after he was convicted of embezzlement and fraud. He was exonerated by the Soviet courts and had his record cleared.
Mr. Usmanov holds stakes in the country's No. 2 telecommunications operator MegaFon (MFON.MZ) as well as Internet company Mail.Ru. (MAIL.LN)
Mr. Usmanov first invested in Facebook during the economic downturn of 2009 and sold his $1.7 billion stake during the social network's initial public offering last May.
Apple shares recently rose 2.3% to $440.14.
Write to Olga Razumovskaya at olga.razumovskaya@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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