Thursday, May 31, 2012

Russia's Strategic Foreign Investment Law May Expand to Internet and Print Media


Under a draft bill amending the law on foreign investment initiated by the State Duma Property Committee, decisions on foreign investment in popular Internet services and any print media would soon require approval from Prime Minister Dmitry Medvedev.  Current law restricts foreign investment only in television and radio and print media with a circulation of more than 1 million, but the draft bill would expand the list of companies that have strategic importance, adding Internet companies that provide socially important services, all printed publications regardless of circulation and printing and broadcasting companies.  The proposed bill would cover all broadcast media, print media with a circulation of more than 1 million, and websites with more than 20 million users. Russia's foreign investment law establishes a special procedure for investments in strategic companies and makes it possible to buy more than 10 percent of voting shares only with the permission of the government's Foreign Investment Commission (headed by the prime minister) and the Federal Anti-Monopoly Service.

http://www.themoscowtimes.com/business/article/scope-of-strategic-investment-law-may-expand/459656.html
http://rt.com/business/news/social-networks-mail-ru-facebook-vkontakte-strategic-assets-653/

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