KrymTelekom ownership changes again

30 Sep 2019

Russian news service RBC reports that the ownership of KrymTelekom in the Russian-occupied Crimea peninsula has changed this month. A mutual fund with undisclosed founders, ‘Fund (CIF) Tres’ – itself owned by management company Vizant Group – acquired the telco’s existing owner, Management Company of Infrastructure Projects, which had bought the operator in December 2018 from the Ministry of Property & Land Relations of the Crimea for RUB998 million (USD14.3 million).

Vizant Group (previously reported to be controlled by Denis Kozorez) had initially held a 5% stake in Management Company of Infrastructure Projects, with 95% of the latter held by Vladimir Zaritsky, Russia’s former Missile Forces commander. Zaritsky and Vizant were placed on a US sanctions list in late 2018 for buying assets from the occupying Crimean government.

Russia, KrymTelekom