There is something strange about Alexander Lebedev offering to give away shares to big business names such as Warren Buffett and Michael O’Leary. I understand the principle of having major equity partners who are experienced as being good for the Russian investment climate, but it is just unbelievable that a couple of the richest guys in the world are offered these assets for free… From Reuters:
Trainer-wearing Lebedev, who controls a sprawling business empire, said he would offer stock to figures like Warren Buffett or Irish low-cost aviation boss Michael O’Leary to draw them into the Russian market.
“I would like to have big western names as partners in my equity investments, I’m not looking for any funding. Frankly, I could give it out for free, in some cases,” Lebedev said on Monday in an interview at the Reuters Russia Investment Summit.
“Yes, if Warren Buffett agrees to take a two or three percent stake in my housing company free of charge for one rouble that would bring me expertise,” he said.