Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Shares Of Evraz Tanked After That Report About Roman Abramovich Being Arrested

Julia La RocheMar 25, 2013, 19:51 IST

Shares of Russian steelmaker Evraz, whose controlling shareholder is Roman Abramovich, slipped this morning on a Russian business news agency's report that the Russian billionaire was being detained by the FBI.

Shortly after 9 a.m. E.T. this morning, Russian news outlet RBC.com Tweeted that Abramovich had been detained in the U.S.

Via Google Translate the Tweet says, "Lightning! In the U.S., detained Roman Abramovich. Details soon."

Minutes later, RBC.com posted a story on its site. Then Russia Today Tweeted the report.

A spokesperson for Abramovich John Mann Tweeted that the RBC story is "NOT TRUE."

The FBI declined to comment.

RBC's report appeared to move Evraz's stock though. Check out the chart from Yahoo! Finance. The stock, which is traded on the London Stock Exchange, tanked right after 1 p.m. GMT, which would be right after 9 a.m. ET when the report first surfaced.