Report: Russian tycoon Fridman faces quizzing on Spanish corp raid - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: Russian tycoon Fridman faces quizzing on Spanish corp raid

MOSCOW, Oct 7 (PRIME) -- Russian billionaire Mikhail Fridman is facing questioning in Spain over allegations he illegally laid Уeconomic siegeФ to an acquisition target while camouflaging his true role, the Financial Times reported on Monday, quoting court documents.

An anti-corruption prosecutor suspects Fridman broke the countryТs criminal code in 2016 in an attempt to take control of Zed World Wide (ZWW), a Spanish mobile content and services business that later declared insolvency.

In a submission to the court, prosecutor Jose Grinda Gonzalez described the alleged attack on ZWW as a УraidФ, noting that Уthe word СraiderТ is used in the realm of organized Russian crime to describe the theft of a business. Either through violence, killing or economic strangulation.Ф

Fridman strongly denies the allegations, maintaining he neither sought to acquire ZWW nor controlled the companies the prosecutor claims have engaged in illegal conduct.

But Grinda said in his August court submission that Уthe allegation is based precisely on Fridman camouflaging his control of the criminal conduct through subordinatesФ.

The billionaire is known for fierce corporate battles, both in Russia and the west, as his Alfa Group has acquired extensive interests in banking, oil, retail and telecoms Ц sometimes through labyrinthine ownership structures.

In 2019 he took control through his holding company LetterOne of Spanish supermarket chain Dia after a bitter dispute with its previous management as its share price slumped.

Fridman is set to appear at a preliminary hearing in the ZWW case later in October.

LetterOne owns 47.9% of common and voting shares of Amsterdam-based VEON, the sole owner of Russian mobile operator VimpelCom, working under brand Beeline.

End

07.10.2019 15:22
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 68.2924 -0.3932 25 jan
USD 61.8031 -0.1484 25 jan
Stock Market Indices
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 237.95 -0.56 18:49 24 jan
lkoh 6620.00 +0.46 18:49 24 jan
rosn 474.00 +0.19 18:49 24 jan
sber 265.49 +0.67 18:49 24 jan
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 68.1350 -0.4850 14:59 24 jan
USDTD 61.8200 -0.1325 17:44 24 jan