The British telecommunications group Truphone, owned by Russian businessman Roman Abramovich and his partners, will be sold for one pound to two European entrepreneurs, the British Financial Times reported, citing informed sources.
It is noted that Abramovich owns 23% of the company’s shares, and his partners Alexander Abramov and Alexander Frolov have a larger share. Truphone was valued at £ 410 million in 2020, with Abramovich and his partners investing more than £ 300 million in the business. The decision to sell was made after sanctions were imposed on the businessman from British and European countries.
According to acquaintances, the deal will be completed in June. The new owners of Truphone will be German businessman Hakan Koch and his business partner Piros Kusios. Koch will own 90% of the shares and Kusios – 10%.
The current business owners have committed to invest more than 10 million pounds in the company and will assume certain contractual obligations. For example, they will pay debts, including a $ 660,000 fine, for misrepresenting the company’s ownership structure.
Sources add that if the business is profitable and increases in value, then the current owners will receive up to a third of the initial investment. However, if Abramovich remains under sanctions during that time, he will not receive the money.
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