Usmanov controlled sells down Facebook stake

Michael Bow
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A COMPANY controlled by Russia's richest man, billionaire Alisher Usmanov, has sold down a $528m (£338m) stake in US tech giant Facebook after the share price’s stellar rally this year.

Usmanov, who is also a shareholder in Arsenal football club, sold 142m shares through his Group vehicle, which represents about 0.6 per cent stake, it emerged yesterday. Shares in the Mark Zuckerberg led juggernaut have leapt 57 per cent this year, reflecting a wider rise across US equity markets.

The Russian billionaire first took a stake in Facebook in 2009 but has decreased his holdings in Facebook, first with the tech stock’s float last year and again in February.

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