MegaFon Buys 63.8% Stake in Mail.Ru Group

UrBC, Moscow, February 13, 2017. The telecommunications provider MegaFon reports the company has gone through with purchasing 11.5m Class A shares and 21.9m ordinary shares (some 15.2% of Mail.Ru Group Limited’s authorized capital, or 63.8% of votes) from businesses affiliated with MegaFon’s controlling shareholder USM Holdings, the company press service reports.

‘Acting upon the decision taken at the extraordinary shareholder meeting on January 20, 2017, MegaFon purchased 11,500,100 Class A shares and 21,940,148 ordinary shares (15.2% of Mail.Ru Group Limited’s authorized capital and 63.8% of votes) from New Media and Technology Investment Lp, New Media Technologies Capital Partners Limited, and Ardoe Finance Limited, which are all affiliated with USM Holdings,’ the press service says.

MegaFon directed $740m to financing the deal. $640m got paid in cash immediately upon the completion of the deal, whereas the rest ($100m) is to be paid out a year later.

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