The two Am Law 100 firms are working on the $1.47 billion sale of a 48 percent stake in VKontakte, Russia's answer to Facebook, by United Capital Partners to a company controlled by oligarch Alisher Usmanov. The deal, which raises questions about Russia's commitment to Internet freedom, also comes amid increased tensions between the country and the West and sanctions against some Russian businesses as a result of the ongoing crisis in Ukraine.
September 18, 2014 at 07:17 PM
1 minute read
UPDATE: 9/26/14, 11:35 a.m. EDT. Information on the firms advising the litigants vying for control of VKontakte has been added to the fourth paragraph of this story.
Alisher Usmanov, the wealthiest oligarch in Russia, has agreed to take control of the country’s answer to Facebook in a $1.47 billion all-cash deal announced this week.
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