MegaFon owner takes a bite out of Apple

1 May 2013

Alisher Usmanov, widely held to be Russia’s richest man, has revealed to Bloomberg that he recently spent around USD100 million buying Apple Inc shares in anticipation that they will rise. In an interview at Bloomberg’s Moscow offices, Usmanov commented: ‘I believe in the future of this company even after Steve Jobs. When the company lost USD100 billion of its market value, it was a good time to buy its shares, as the capitalisation should rebound’.

It remains unclear whether or not Usmanov will attempt to wield boardroom influence at the US manufacturer; he is currently the controlling shareholder at Russian mobile giant MegaFon, and Russia remains one of the main omissions on Apple’s list of countries/operators permitted to offer the iPhone 5 with Long Term Evolution (LTE) support enabled.

United States, Apple, MegaFon