Monday, June 13, 2011

Billionaire Russian immigrant buys 20 per cent stake in Israeli newspaper

Former Russian oil tycoon Leonid Nevzlin, convicted in absentia of murder in Russia in what he termed a show trial, has bought a 20 per cent stake in Israel’s Haaretz newspaper, the left-wing daily reported. Publisher and majority owner Amos Schocken said in a statement that the new investment follows year-long talks, and added: “All the funds will go into the company, and Nevzlin will join the firm’s board of directors. After the investment, the Schocken family will hold a 60% stake and the publishing company DuMont Schauberg of Cologne, Germany, will hold 20 per cent,”

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