Mail.ru in talks with MegaFon
The mobile phone network says it would be ‘natural partners’ with Mail.ru as the telecoms and internet-service markets converge
Moscow — Naspers’s 28% owned Russian associate Mail.ru is in talks with billionaire Alisher Usmanov’s mobile phone network MegaFon. In a statement on Wednesday, MegaFon said it would be "natural partners" with Mail.ru as the telecoms and internet-service markets converge. "There is no certainty that MegaFon will become a shareholder of Mail.ru," Moscow-based MegaFon said in a statement on Wednesday. If an agreement was reached, the two companies would "continue operating as separate entities on an arms-length basis". The phone carrier did not say which Mail.ru shareholders it was holding talks with. MegaFon owner Usmanov holds about 15% of Mail.ru’s shares. "MegaFon may buy Usmanov’s stake in Mail.ru to create synergies between the communications and internet businesses," Otkritie Capital analyst Alexander Vengranovich said by phone. "This would also help Usmanov’s USM to cash out its investment in Mail.ru, which was difficult to do via dividends." The current market speculation doe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.