Russian antitrust head sees no barriers for MegaFon to buy Mail.Ru

MOSCOW, Jan 18 (PRIME) -- Director of Russia’s Federal Antimonopoly Service, Igor Artemyev, said Wednesday he sees no obstacles for allowing mobile operator MegaFon to buy shares of Internet giant Mail.Ru Group.

“Personally, I see no (problems)…The New Year holidays have made us feel somehow out of time and space, that’s why I can’t mention (any timing for the authority’s response to MegaFon’s request for the deal’s approval),” Artemyev told reporters.

The service, which registered the request from MegaFon on January 11, has not responded to the request yet, he said.

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 Friday.

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