November 19, 2019 / 10:04 AM / 23 days ago

Sberbank, Mail.Ru discuss possible IPO for online food, taxi venture

FILE PHOTO: Clocks are seen at the trading floor of Russia's lender Sberbank headquarters in Moscow, Russia January 30, 2018. REUTERS/Tatyana Makeyeva

MOSCOW (Reuters) - Sberbank (SBER.MM) and internet company Mail.Ru (MAILRq.L) have discussed the possibility of holding an initial public offering for their joint food and taxi platform, the Russian state lender said on Tuesday.

Sberbank will not own a controlling stake in the joint venture, Sberbank said. It added that Mail.Ru’s board of directors will have a Sberbank representative on it.

Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Jason Neely

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