Russia my cap foreign ownership in news aggregators by 20%

MOSCOW, Oct 22 (PRIME) -- Russia’s State Duma, the parliament’s lower house, has received a bill to limit the share of foreign stockholders in the capital of news aggregators to 20%, according to the house’s database seen by PRIME on Monday.

“A federal law draft…is aimed at limiting participation in operations of an owner of a news aggregator for foreign governments, international organizations, which are under their control, foreign legal entities, Russian legal entities, in which the share of foreign involvement is over 20%, foreign citizens, or individuals without citizenship, citizens of the Russian Federation with citizenship of another country,” an explanatory note read.

The measure will “prevent threat for public order in Russia and create favorable conditions for development of the civil society.”

End