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The CTC Media Holding may sell its shares for USD 200 million.
According to the Gazeta.Ru, the CTC Media Holding may sell 75% of shares to the U-TV Group for USD 200 million.
We shall recall, that it became known last week that the U-TV Group, owned by Russian businessmen Alisher Usmanov and Ivan Tavrin, received the exclusive right to negotiate the acquisition of the CTC Media’s share, or rather its offshoot CTC Investments.
By selling its foreign assets the media holding will meet Russian Law On Mass Media. Pursuant to new amendments, which will come into effect from the next year, the foreign shareholders may own a maximum of 20% shares of radio, printed edition, TV channel or other media in Russia, as was previously reported by Mediasat.
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