E-scooter firm Voi, which operates hire schemes across the West of England, has confirmed it has parted ways with its Russian shareholders, after it was warned it could face losing the contract for Bristol and Bath if it did not sever ties. The Swedish tech firm confirmed to BusinessLive the investors had been removed from the business over the summer, and their shares have been sold, pending administrative confirmation anticipated to be announced by the company next week.
Earlier this year, following Russia’s invasion of Ukraine, West of England metro mayor Dan Norris said he was “deeply concerned” by Voi’s connections with two Russian businessmen.
The pair - named in media reports as Ilya Yushevaev and Alexander Eliseev - are thought to have had a roughly 4% stake in Voi, acquired years before Vladimir Putin's regime invaded Ukraine in February. According to Voi, Mr Yushevaev and Mr Eliseev have not been named on any nation’s list of ‘sanctioned’ Russian oligarchs and are "anti-Putin supporters".
