Moscow Times
Onexim Group, owned by billionaire and Brooklyn Nets owner Mikhail Prokhorov, has bid to purchase 100 percent of shares in the influential Russian business daily Vedomosti, Russian media reported, citing sources close to the tender.
Vedomosti — which is published in tandem with the Financial Times and the Wall Street Journal — is one of a handful of Russian newspaper and magazine assets owned by Sanoma Independent Media, or SIM, a subsidiary of struggling Finnish media group Sanoma, which is unloading its Russian operations in an effort to firm up its bottom line.
Citibank, which was hired to manage the sale of SIM, is expected on Friday to close the call for bids on Vedomosti and other assets included in the company’s portfolio, the report said. SIM also publishes The Moscow Times and a series of glossy magazines such as Cosmopolitan, Esquire, Harper’s Bazaar and National Geographic.
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