Support The Moscow Times!

Potanin Offered Alrosa Stake

Russian authorities have asked tycoon Vladimir Potanin to invest in Alrosa during the upcoming sale of a 14 percent government stake in the diamond producer, Kommersant reported Monday, citing sources.

According to market participants, Suleiman Kerimov, Alfa Group and Viktor Vekselberg have also been offered to participate in the sale.

Analysts differ in assessing the attractiveness of Alrosa, noting that the government needs a loyal investor during the sale of the stake.

Officials fear that foreign investors might buy into the diamond monopoly, the sources said.

Oppenheimer Funds, which used to co-own diamond miner De Beers, has expressed interest in the sale, Kommersant reported. An Oppenheimer Funds representative declined to comment.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.