October 9, 2019 / 7:27 AM / 8 days ago

BRIEF-Russia's Mail.ru announces digital payment JV

Oct 9 (Reuters) - Russian internet group Mail.ru says:

* Mail.ru, Alipay, USM, Russian Direct Investment Fund and Megafon announced a plan to form a joint venture focused on digital payment services for Russian users

* The signing of non-binding term sheets for partnership follows establishment of AliExpress Russia JV

* Mail.ru will provide non-cash asset contributions of Money.Mail.ru and VK Pay to the payment JV and will become its largest shareholder with a 40% stake Further company coverage: (Reporting by Moscow Newsroom)

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