Affected by strong sanctions, the Russian billionaire was forced to sell his telecommunications company Truphone worth 512 million dollars...
Oligarch Roman Abramovich, who once enjoyed lavish parties on the fantastic superyachts Eclipse and Solaris, lived the life of his dreams and owned several businesses. The same oligarch is now experiencing a kind of nightmare. His net worth fell to almost half from $ 14 billion to $ 8.9 billion.
One of the billionaire's companies "Truphone" is sold for only 1 dollar to two European entrepreneurs. You read that right, Truphone, a London-based mobile network company, sells for less than the price of a bottle of water.
Truphone is currently worth a whopping $ 512 million. The company was worth $ 410 million in 2020 and received nearly $ 375 million in investments from Abramovich and his business partners Alexander Abramov and Alexander Frolov.
It is not that the company did not do well, but because of the sanctions against Roman Abramovich, he must separate from his endeavour at a non-refundable price. According to those informed, the deal will be concluded in June. The new owners of the Truphone company will be German businessman Hakan Koc and his business partner Pyrros Koussios. Koc will have 90 percent of the shares, while Koussios will get the remaining 10 percent.
Headquartered in London, Truphone has offices in ten countries spread over four continents. The news that the company worth 512 million dollars is selling for a miserable 1 dollar is really shocking.
In the case of the telecom company Truphone, Abramovich will be allowed to recoup up to one third of his original investment, but will not receive any of it as long as he is under sanctions.