MegaFon promises to apply for JV with Alibaba to antitrust soon

MOSCOW, May 17 (PRIME) -- An application to the Federal Antimonopoly Service on creation of a joint venture of the Russian Direct Investment Fund (RDIF), mobile operator MegaFon, Internet company Mail.Ru Group, and China’s Alibaba Group could be filed next week, MegaFon CEO Gevork Vermishyan told reporters on Friday.

“We’ll file the application most likely next week,” Vermishyan said.

The partners said in September 2018 they will join efforts in e-commerce on the basis of AliExpress’s business in Russia and Pandao. Alibaba will have 48% in the joint venture, MegaFon will have 24%, RDIF 13%, and Mail.Ru Group 15%.

RDIF CEO Kirill Dmitriev said in March that the fund would ask the antimonopoly service in April to approve the deal.

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