#AceFinanceNews Russia’s biggest billionaire has bought shares in big Chinese internet retailer Alibaba, after selling his stakes in US tech giants Apple and Facebook.
The deal comes as the West imposes sanctions on Russia, that could spread from politics to business.
Usmanov, 60, a founder of Russia’s iron ore Metalloinvest Holding Company, has an estimated fortune of $18.6 billion as of March 2014 and is increasing his bet on China, while selling American assets.
“Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign internet investments,” Ivan Streshinskiy, head of Usmanov’s asset-management company USM Advisors LLC, told Bloomberg in an interview in Moscow.
#AceFinanceNews – MOSCOW – Russian Deputy Prime Minister Dmitry Rogozin believes that France’s statements over possibly frozen contract on sale of helicopter carriers Mistral to Russia undermine trust to France as a reliable supplier.
The deputy prime minister has made a posting at his Twitter page on Tuesday
“Yesterday’s televised statements by the French foreign minister (Laurent Fabius) over Russian-French military-technical co-operation are surprising.
In a very sensitive sphere of military-technical co-operation France begins undermining trust to the country as a reliable supplier,” Rogozin wrote down.