MOSCOW, September 11 (RIA Novosti) - The Westminster court in London has released businessman Yevgeny Chichvarkin, wanted in Russia on kidnapping and extortion charges, on a 100,000 euro ($145,500) bail, Russia's Kommersant daily said Friday.

The Russian Foreign Ministry earlier said the former co-owner of Russia's largest mobile phone retailer, Euroset, was arrested in London on September 7, but released on bail the same day awaiting an extradition hearing.

A court official confirmed this information on Thursday in an interview with RIA Novosti, but refused to specify the amount of bail or its source.

Chichvarkin has been ordered to appear in court for an extradition hearing on September 22.

The fugitive businessman has been on the wanted list in Russia since late January on suspicion of involvement in the 2003 abduction of the firm's shipping agent, who had allegedly stolen large quantities of mobile phones, as well as the extortion of money from him.

Russia sent a formal extradition request to the U.K. for the businessman in June.

Last September, Chichvarkin and his business partner Timur Artemyev sold Euroset to the ANN investment company for $1.25 billion. Euroset runs over 5,000 outlets in 1,464 cities in Russia and some of the former Soviet republics. The company's sales reached $5.61 billion in 2007.

In a radio interview last Wednesday Chichvarkin said he was considering establishing a business in Britain.