MegaFon closes deal to buy 63.8% voting stake in Mail.Ru Group

MOSCOW, Feb 10 (PRIME) -- Russian mobile operator MegaFon has closed a deal to purchase 63.8% of voting shares of Internet giant Mail.Ru Group from subsidiaries of its own major shareholder USM Holdings, according to MegaFon’s documents, seen by PRIME late Thursday.

“MegaFon purchases 11.5 million shares of class A and 21.94 million common shares of Mail.Ru Group Ltd., which account for 15.2% of the charter capital and 63.8% of votes in Mail.Ru Group Ltd., from partnership New Media and Technology Investment L.P., company New Media Technologies Capital Partners Ltd. and company Ardoe Finance Ltd.,” the mobile operator said.

According to earlier reports, the asset was bought for U.S. $640 million on completion plus an unconditional deferred payment of $100 million due in one year post completion paid in cash.

MegaFon said on Wednesday it had opened a 35 billion ruble credit line with Sberbank to finance the deal.

(59.0235 rubles – U.S. $1)

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