Although the application of communication is mentioned that the Kremlin-controlled investor entity does not want, but Mubadel Investment in Abu Dhabi said that the Russian direct investment fund participated in its deal to buy convertible bonds from the famous application of telegram messaging.
According to Arab Net, Russian-born Pavilore Telegram to Dubai several years ago after being forced to sell its share of a social network in Russia to a nearby billionaire from the Kremlin in 2014.
For its part, Mubadala said in a statement on Wednesday that the Fund had participated as a minority through the Russian-joint Russian investment platform, noting that they concluded similar deals together in the past, said Bloomberg said.
He added that the rights of bondholders are limited and that bonds do not grant the capacity to influence the values or strategy of the company, we generally do not consider transactions in Telegram's secondary market.
Investor bonds are granted the right to transfer them to shares in the event of the company to subscribe to a discount of the initial offering price.
Conflict with Russia
"This statement came after hours of an angry protest from the app, which clashed for years with Russian regulators on abandoning encryption keys.
Mubadala and Abu Dhabi Joint Company, which has a share on Tuesday, said they had invested $ 75 million in the show, but did not mention the Russian fund. A spokesman for the Russian sovereign fund later said he was jointly involved with Swap, and disclosed the disclosure of the contribution.
Telegram includes more than 500 million active users and has seen an increase in use after US technology companies suppress the provincial voices in the United States earlier this year.
Russian organizers tried to ban service in 2018 when law enforcement authorities refused to encrypt keys to read messages.
