RDIF Says it Invested in Telegram with Mubadala, But App Says No - Bloomberg
The Russian Direct Investment Fund said Tuesday it joined Mubadala Investment Co. in buying convertible bonds of Telegram, but the messaging app denied the Kremlin-controlled entity was an investor.
Earlier Tuesday, Mubadala and an Abu Dhabi joint venture it owns a stake in announced each made a $75 million investment in pre-initial public offering convertible bonds in Telegram, without mentioning the Russian fund, with which it has joint investment deals. An RDIF spokesman said later it had participated “jointly with Mubadala,” declining to say how much it contributed.
But Telegram denied that. “RDIF is not in the list of investors we sold bonds to. We wouldn’t be open to any transaction with this fund,” spokesman Mike Ravdonikas said in an email. “The funds that did invest, including Mubadala, confirmed to us that RDIF was not among their LPs,” he added, referring to limited partners.
RDIF and Mubadala didn’t immediately respond to requests for comment on the Telegram statement.
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