MegaFon, Gazprombank, Rostec, USM Holdings to set up digital JV - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

MegaFon, Gazprombank, Rostec, USM Holdings to set up digital JV

MOSCOW, May 8 (PRIME) -- Russian mobile operator MegaFon, Gazprombank, state industrial corporation Rostec, and USM Holdings of businessman Alisher Usmanov will set up a a joint venture, MF Technologies (MFT), to develop digital services and implement projects in the digital economy, MegaFon said in a statement on Tuesday.

УJointly with its partners, MegaFon plans to implement a number of digital projects, including creating software products to digitalize the operations of major companies and enterprises, and developing blockchain-based solutions,Ф the statement read.

УThe most important project on which active work is already being conducted is the creation of a Financial Digital Platform on the basis of which the parties will develop hi-tech services, including payment, credit and other digital products.Ф

The partners will also create a fund, Digital JV, to invest in tech start-ups, the operator said.

MegaFon will contribute 11.5 million Class A shares of Mail.Ru Group Limited to MFT, comprising a 5.23% economic share, and providing 58.87% of votes.

Lefbord Investment Limited, a 100% subsidiary of MegaFon, is the current shareholder of MFT. Lefbord will sell a 35% stake in MFT to Gazprombank, a 9% stake to USM and an 11% stake to Rostec.

Following the transaction, Lefbord will own the remaining 45% of MFT. Under the deal, 100% of shares in MFT are valued at U.S. $450 million, which envisages a 29% premium to the market price of Mail.Ru GDRs as of May 4.

MegaFon will retain 21.94 million shares directly, representing an economic stake of 10% in Mail.Ru, and has no plans to sell these shares.

End

08.05.2018 11:42
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 70.9305 +0.2009 15 oct
USD 64.3652 +0.1415 15 oct
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1321.13 -0.64 18:50 14 oct
micex 2697.46 -0.39 18:50 14 oct
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 226.00 -0.60 18:48 14 oct
lkoh 5450.00 +0.46 18:46 14 oct
rosn 413.40 +0.43 18:49 14 oct
sber 228.40 -0.83 18:49 14 oct
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 70.8400 +0.0575 14:59 14 oct
USDTD 64.1100 -0.4750 17:44 12 oct