Roman Abramovich had attached himself with Independent News & Media as an investor of the cutting-edge telecommunications firm, Truphone. Independent News & Media is known for being the publisher of the Sunday Independent while Abramovich is known for his ownership of Chelsea Football Club in London.
Abramovich spent over EUR81 million to purchase 23.5% share in the UK firm.
Truphone was created in 2007 by inventor James Tagg. Tagg created the touchscreens put into use in ticket machines in the London Underground. Truphone's technological innovation enabled travellers in the UK, Australia and the US to make use of their mobilephone to make calls, send text messages, and surf the web at their local rates without having to change their SIM card or handset.
Independent News & Media Investments maintains around 140,000 shares of the company, which after the Abramovich investment could now be worth up to EUR700,000. Abramovich invested in the firm via his Minden vehicle.
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