Billionaire Potanin Expands Influence in Russia's IT Sector

Russian billionaire Vladimir Potanin has expanded his investments in the technology sector by acquiring a 25% stake in Selectel through a joint venture. This follows his earlier acquisition of shares in internet giant Yandex. Selectel's revenue saw significant growth in 2025.

Russian billionaire Vladimir Potanin has made a significant move in the technology sector, acquiring a 25% stake in top IT infrastructure provider Selectel through companies he controls.

The acquisition, valued at 16 billion roubles ($206 million), was announced by T-Technologies, a firm linked to the transaction. Catalytic People, the joint venture between Potanin's holding Interros and T-Technologies, executed the deal.

Potanin, also the CEO and largest shareholder of Russian metals giant Nornickel, previously expanded his IT interests with a stake in Yandex, highlightIng his growing tech presence. Selectel reported a 42% revenue increase for the first nine months of 2025.