Russian government supports capping IT firms foreign ownership

A government letter, dated Oct. 18, and published on the website for the legal acts disclosure, said the criteria of "significant informational resources" should be defined. "Requirements for limiting of foreign participation in the significant informational resources in the relation to the voting shares at the level of 50% minus one share should also be envisaged," the document said.

"The government of Russian Federation supports the draft law, taking into account the mentioned notes." The proposal has drawn critics from several sides, including from the companies themselves.

Copyright Reuters, 2019