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8 months ago
Russian telco Megafon to buy stake in Mail.ru for $740 mln
December 23, 2016 / 7:14 AM / 8 months ago

Russian telco Megafon to buy stake in Mail.ru for $740 mln

MOSCOW, Dec 23 (Reuters) - Russia's second-biggest mobile operator Megafon said on Friday it would buy a majority stake in internet group Mail.ru from the two companies' common shareholder Alisher Usmanov for $740 million.

Under the terms of the proposed transaction, Megafon would buy a 63.8 percent voting stake in Mail.ru, paying $640 million on completion of the deal and a further $100 million a year later. (Reporting by Maria Kiselyova; Editing by Peter Hobson)

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