The Helsinki authorities have begun negotiations on the sale of the Helsinki Hall arena, which belongs to businessmen from Russia.
The city administration of the Finnish city confirmed the start of the negotiation process.
Helsinki is taking steps to acquire shares in the arena in order to begin operation, RIA Novosti reports, citing the city administration.
According to sources, the arena belongs to businessmen Gennady Timchenko and Roman Rotenberg.
In recent times, Helsinki Hall has reportedly become deeply in debt and is on the verge of bankruptcy.
The owners are unable to pay off debts amounting to hundreds of thousands of euros due to the inability to make payments.
Finnish banks are unable to process payment transactions from sanctioned customers.
City officials have begun negotiations and are also taking other steps if the deal falls through.
Author: Elena Gutyro
