Investor Offloads Stake; IPO Looks Less Likely

While you were off for Christmas, the ownership of Russia’s top website (according to TNS) shifted a little. Tiger Global Management hedge fund sold its 27 percent stake in to its existing shareholders Digital Sky Technologies and Naspers. The Russian online investment vehicle and the South African media outfit now have 53.2 percent and 42.8 percent respectively, CEO Dmitri Grishin has 2.5 percent. The deal means DST, which is part-owned by Arsenal and LiveJournal investor Alexander Usmanov, now controls a majority of both and Runet’s top social site

Vedomosti explains that’s plans to IPO in London this year were driven by Tiger but the other owners instead wanted to buy Tiger out; now the original $2 billion valuation is said to have taken a hit. It said DST bought 15 percent for $300 million. made $56 million revenue in 2007, Yakov said.