Tuesday, July 05, 2016

Is Prokhorov selling Russian assets? Spokesman denies rumors

NetsDaily, taking off from a Moscow Times report, ventilates the Russian media reports that Mikhail Prokhorov, reportedly pressured by Vladimir Putin, is selling all his Russian assets, which range from mining and metals to media and real estate. 

A Prokhorov deputy told "Net Income" (aka Bob Windrem)  the rumor wasn't true, but said officials at Prokhorov's firm Onexim "are constantly in a state of transition and we are always in the process of negotiations for sales and acquisitions and attracting new partners."

Prokhorov's separate United States company, Onexim Sports & Entertainment, owns the Brooklyn Nets and the operating company for the Barclays Center. It is owned by Prokhorov but not a subsidiary of his Russian conglmerate. It is not for sale, and Onexim has been investing in projects like the Nassau Coliseum.

But things could change. Windrem writes:
However, the political situation in Russia is increasingly volatile and Prokhorov, with his high profile American assets, has become a target. It's also likely to renew rumors that he wants to sell all or part of the Nets.
In other words, you never know.

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