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Brooklyn Nets' Russian owner Prokhorov looking to transfer ownership company to Russia

MOSCOW - The Russian owner of the Brooklyn Nets says he is moving ahead with plans to transfer the NBA team's ownership company to Russia. Mikhail Prokhorov first announced last year that he wanted to shift control of the team to a Russian-based company after the Kremlin passed a law regulating foreign holdings for public officials. However, the move would also be in line with Russian President Vladimir Putin's recent call for billionaires to register their businesses at home in the wake of U.S. sanctions following Russia's annexation of Crimea.

Brooklyn Nets' Russian owner Prokhorov looking to transfer ownership company to Russia

MOSCOW - The Russian owner of the Brooklyn Nets says he is moving ahead with plans to transfer the NBA team's ownership company to Russia. Mikhail Prokhorov first announced last year that he wanted to shift control of the team to a Russian-based company after the Kremlin passed a law regulating foreign holdings for public officials. However, the move would also be in line with Russian President Vladimir Putin's recent call for billionaires to register their businesses at home in the wake of U.S. sanctions following Russia's annexation of Crimea.

Billionaire Prokhorov says transferring Brooklyn Nets ownership to Russia

Russian billionaire businessman Mikhail Prokhorov, owner of the Brooklyn Nets basketball franchise, said Monday he was transferring its ownership to Russia. As one of the richest Russians with assets abroad, Prokhorov could be vulnerable if the Western powers escalate economic sanctions against Russia over its takeover of Crimea. "I am doing all that I can to own the basketball club through a Russian company," Prokhorov told journalists, quoted by the Interfax news agency.

Billionaire Prokhorov says transferring Brooklyn Nets ownership to Russia

Russian billionaire businessman Mikhail Prokhorov, owner of the Brooklyn Nets basketball franchise, said Monday he was transferring its ownership to Russia. As one of the richest Russians with assets abroad, Prokhorov could be vulnerable if the Western powers escalate economic sanctions against Russia over its takeover of Crimea. "I am doing all that I can to own the basketball club through a Russian company," Prokhorov told journalists, quoted by the Interfax news agency.

Russia's Prokhorov reveals sale of gold stake for $3.6 bn

Russian billionaire Mikhail Prokhorov announced on Friday that his Onexim investment holding group had sold its 37.78-percent stake in the gold producer Polyus Gold for $3.6 billion (2.7 billion euros). The stake was acquired by an organisation controlled by Russia's lower house parliament member Zelimkhan Mutsoyev and by Gavriil Yushvayev, a former co-owner of the Wimm-Bill-Dann juice and drinks producer, Interfax reported. Polyus Gold, a London-listed firm, has the world's third-biggest reserves of the precious metal.
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