On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
57° Feels Like: 57°
Wind: NNW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 48°

Tomorrow

Mostly Sunny 75°

Tues Night

Clear 50°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Billionaire Lebedev to sell out of Russia's Aeroflot: report

Russian media magnate Alexander Lebedev speaks to the media after arriving for a court hearing in Moscow, May 20, 2013. REUTERS/Maxim Shemet
Russian media magnate Alexander Lebedev speaks to the media after arriving for a court hearing in Moscow, May 20, 2013. REUTERS/Maxim Shemet

MOSCOW (Reuters) - Russian billionaire Alexander Lebedev has been in talks with investors about selling his 4.5 percent stake in flagship carrier Aeroflot OAO , the tycoon was quoted as saying on Thursday by business daily Vedomosti.

Lebedev, an outspoken tycoon with media assets in Russia and Britain, told Reuters last year he may sell his Russian assets after coming under Kremlin pressure and being charged over his part in a fracas on a TV talk show.

The 53-year-old backer of British newspapers The Independent and The Evening Standard has been reducing his holding in Aeroflot, decreasing his stake to 12.5 percent as of late last year from more than 25 percent earlier, the paper said.

Lebedev now owns 4.5 percent of Aeroflot, worth 2.5 billion roubles ($78 million). A spokesman for Lebedev was not available for comment.

Lebedev is on trial over an incident last year in which he threw a punch at property developer Sergei Polonsky during a TV talk show. He faces up to five years in jail if convicted on a charge of hooliganism and battery.

($1 = 32.1950 Russian roubles)

(Reporting by Vladimir Soldatkin; Editing by Douglas Busvine and Matt Driskill)

Comments