Support The Moscow Times!

Vekselberg Settles on Sulzer

ZURICH, Switzerland — Billionaire Viktor Vekselberg, who holds controlling stakes in Swiss industrial groups Oerlikon and Sulzer, and two partners have paid 10 million Swiss francs ($10.4 million) to end an investigation.

Swiss authorities had been looking into whether Vekselberg and two other investors violated disclosure rules when they built up a stake in Sulzer but closed their investigation after Vekselberg paid compensation, the Swiss Finance Ministry said Monday.

Last month, a Swiss court cleared Vekselberg of violating disclosure rules when he built up his stake in Oerlikon. He was facing what would have been a record 40 million franc fine.

(Reuters)


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more