MegaFon will pay $ 740 million for a controlling stake Mail.ru Group

Russian operator «MegaFon» announced the intention to acquire a controlling stake in the company Mail.ru Group. The press release States that «the Megaphone» will convene a meeting of shareholders for approval of the purchase of 33.4 million shares Mail.ru Group, representing approximately 63.8% of all the shares of the company. At the moment Mail.ru Group belongs to a group of USM.

The purchase price will be 740 million, of which $ 640 million will be paid at the closing of the transaction, while the remaining 100 million a year. The document stated that the deal is aimed at obtaining significant synergy effects for both companies, including expanding the range and ways of promoting the digital services of «MegaFon», the launch of special offers VKmobile for users of the social network «Vkontakte» and other possible initiatives. However, no major changes in work resources Mail.ru not going to happen.

When completed the deal is not said. As always, the necessary permits from the appropriate regulatory authorities. After the announcement of the transaction the shares of MegaFon fell by 5%.

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