Russian oligarch Prokhorov sells Snob, his last media asset

Russian oligarch Prokhorov sells Snob, his last media asset
By bne IntelliNews September 21, 2017

The Oneksim group that belongs to Russian tycoon Mikhail Prokhorov sold 100% of Snob Media publisher to the head of the group Maria Gevorkyan, according to September 21 announcement.

Snob was the last media asset left in Prokhorov's portfolio, as he previously sold RBC media holding and business news portal in the continuous disposal of assets that started in summer 2016.

Apart from Snob and RBC, Prokhorov chipped away at his  stake in aluminum major Rusal, and sold fertiliser major Uralkali, as well generating assets Quadra among other assets.

Vedomosti daily on September 21 reminded that unconfirmed reports in 2016 suggested that the signal to sell assets in Russia for ex-presidential candidate Prokhorov came with an "imperative recommendation" from Kremlin.

The tycoon recently made a slapstcik appearance on the popular US Late Show with Stephen Colbert, which the sources of the daily tie with Phokhorov's re-branding as an American businessman.

Bloomberg estimated Prokhorov's assets in US, that include Brooklyn Nets basketball clud and real estate development companies, at $2.2bn, while the value of his Russian assets have been trimmed to $1.8bn. In 2011 Prokhorov was Russia's third richest man worth $18bn according to Forbes.
His downfall is linked by Vedomosti to Prokhorov short-lived political ambitions in 2012, investigations of the RBC holding that were hostile to President Vladimir Putin and his family, and the conflict his team in Quadra had with the notorious oilman Igor Sechin, which culminated in searches in Quadra's and Oneksim's offices in March 2016.

ED: The original of this article said that Prokhorov had sold his stake in Renaissance Capital. He has not sold the stake and remains an investor in the bank.

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