Megafon shareholders gave the go-ahead to buy part of the shares Mail.Ru Group for $740 million

At an extraordinary meeting, shareholders of the Megafon operator approved the purchase of 15.2% of the Internet giant’s share capital Mail.Ru Group for $740 million.

The acquired share of the share capital corresponds to 63.8% of the votes in the company.

The deal was first announced at the end of December last year. Even then, it was approved by the special Board of Directors of Megafon, and Mail.Ru Group has shown willingness to work with a mobile operator.

MAU of the Mail Internet portal.Ru was 49.1 million in October last year, the active audience of VKontakte was 90 million, and Odnoklassniki was 43.6 million, Megafon plans to buy a share in Mail.Ru Group, “focus on increasing the share of “digital subscribers” in its base.”

The main shareholder of both Megafon and Mail.Ru Group, is a USM holding, 60% of it belongs to Alisher Usmanov, who is in the Top 3 richest businessmen in Russia.

Source: RBC