UK-based eSIM specialist TruPhone is reportedly set to be sold for just £1 following the imposition of sanctions on Russian oligarch Roman Abramovich, who is a part owner of the business. Reports say German businessman Hakan Koç and his associate and former telecoms executive Pyrros Koussios will acquire 90% and 10% of the company, which had been valued as much as £410 million in 2020. Abramovich owns a 23% stake in Truphone, with the remainder of shared owned by his business partners Alexander Abramov and Alexander Frolov, with the trio investing around £300 million, according to The Times.
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