Announced
Financials
Sources
Tags
Gaming
instant messaging networks
Friendly
IT Services: Other
Acquisition
Single Bidder
internet access services
Pending
Russian Federation
Online and Social Platforms
online games
Minority
telecommunication services
social networking websites
email service
Public
Telecommunications Services: Other
Synopsis
Sberbank, a state-owned Russian banking and financial services company, agreed to acquire a 20% minority stake of MF Technologies from Gazprombank for $170m. The agreement will be concluded by the end of 2019, after obtaining all necessary permits from corporate governance bodies and regulators. Sberbank’s 35% stake in MF Technologies would give it control of one-fifth of the voting rights of Mail.Ru and a 1.8% economic interest in the tech giant. The bank shares and supports the strategy pursued by Mail.ru. Two mutually reinforcing ecosystems working together to maximize their synergy should create new opportunities for clients.
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