LetterOne expands investment prospects in technology sector

According to RBC LetterOne Mikhail Fridman, German Khan and Alexei Kuzmichev, founded a new direction - LetterOne Technology - for investment in telecommunications and technology companies in the West.

According to the agency, the new division of the financial holding is replacing the structure - LetterOne Telecom. Aleksey Reznikovich, previously managing the telecommunications assets of Alfa Group, was appointed the head of the division. According to the Financial Times, L1 Technology has its own funds of $ 16 billion, which can also be increased to $ 25 billion.

L1 Technology can invest in both traditional telecoms and Internet companies. According to the head, the unit will look for opportunities to acquire significant shares of enterprises that give control or significant influence in large companies (transaction value - from $ 1 billion).

The more digital focus of the former L1 Telecom was reflected in the advisory board, which, along with figures from the world of mobile communications, came from the digital industry.

The head office of L1 Technology is located in London.

Advisory Board:

• Osama Bedier
  Former AT&T and Sizmek employee. He worked in the PayPal team as vice president of development. In early 2011, Bedier moved to Google, where he was developing an electronic wallet project. Following the launch of Google Wallet, eBay, the owner of PayPal, filed a lawsuit against Google, accusing it of stealing trade secrets.
  
• Brent Hoberman
  A veteran of the British Internet business. In 1998, when the WWW wave came to England from the United States, he created the site Lastminute.com, subsequently sold for £ 577 million.
• Julian Horn-Smith
  Member of the Board of Directors and Advisor to several international corporations. Horn-Smith worked for 22 years in the British mobile operator Vodafone and stood at the origins of its creation.
• Russ Shaw A
  business angel and venture investor, non-executive director of a number of hi-tech companies. Shaw previously served as chairman of the Marketing Group of Great Britain club, as well as vice president and managing director of Skype.
• Denis O'Brien
  is one of Ireland's few billionaires. In the Forbes annual list, released in March 2015, he ranks second out of five Irish people (and 199th worldwide), with a fortune of $ 6.8 billion.