Russian investor sells Air Berlin stake

1/12/2009 9:51:59 AM

German airline Air Berlin said that Russian billionaire Len Blavatnik sold his 18.9 percent stake in the carrier, leaving market participants guessing who bought the holding, Reuters reported.   Recorded trading volumes show that Blavatnik, whose largest company, petrochemicals maker LyondellBasell, has filed for bankruptcy protection, did not sell his Air Berlin stake via the stock market.   Abu Dhabi's Etihad Airways, previously rumoured to be interested in building a stake in the German carrier, said it did not buy Blavatnik's stake.   Since the Russian investor bought the Air Berlin stake in the spring of 2008, its market value has halved, falling to about US$75.91 million.   CargoNewsAsia

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