Russian antitrust gets MegaFon’s request to buy Mail.Ru Grp shares

MOSCOW, Jan 12 (PRIME) -- Russia’s Federal Antimonopoly Service has received a request from mobile operator MegaFon to buy shares of Internet giant Mail.Ru Group, a spokesperson for the authority said Thursday.

“The request was registered on January 11,” the spokesperson said without disclosing the mentioned stake.

MegaFon’s board of directors approved a purchase of 63.8% of voting shares of Mail.Ru Group for U.S. $740 million in late 2016.

MegaFon will buy 11.5 million Class A shares and 21.9 million ordinary shares in Mail.Ru Group, currently held by New Media and Technology Investment LP, New Media Technologies Capital Partners Ltd. and Ardoe Finance Ltd., subsidiaries of USM Holdings, for an agreed consideration of $640 million on completion plus an unconditional deferred payment of $100 million due in one year post completion paid in cash.

The deal will be approved by MegaFon’s shareholders at an extraordinary meeting on January 20.

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