Min says opposes bill capping foreigners’ stakes in Internet giants

KRANJSKA GORA, Slovenia, Jul 29 (PRIME) -- Russian Digital Development Minister Konstantin Noskov firmly opposes a draft law limiting foreign ownership in Russian Internet giants, he told PRIME on July 27.

“These companies exist because the government did not press them too hard in the past. I think that it must not do it now either, there is no point. This is why we’ll consider the bill separately, when it arrives to the government. I am strongly against this on the level of an idea,” he said.

On July 26, the State Duma, parliament’s lower chamber, received a bill on important information resources limiting foreign ownership in such firms at 20% of voting shares. Author of the draft law said that it covers the IT companies focused on the Russian market, including Yandex and Mail.ru.

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