Russia's Fridman forms $16 bln fund to invest in US, European telecoms -FT

April 6, 2015 12:14 AM

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April 5 (Reuters) - Russian billionaire Mikhail Fridman and his Russian partners have come together to create a private-equity-style group that will invest in technology and telecom companies in the U.S. and Europe, the Financial Times reported.

The private-equity fund called LetterOne Technology (L1Technology), will utlise its $16 billion in funds - stretchable up to $25 billion - to buy struggling telecom companies that require fresh infusion of capital or technology companies that make apps or streaming services that could be used by its...

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