Mail.ru acquires another stake in Vkontakte

News Broadband Russian Federation 18 MRT 2014
Mail.ru acquires another stake in Vkontakte
Russian internet group Mail.ru has concluded an agreement on the indirect acquisition of a 11.99 percent stake in social network Vkontakte. The group has acquired the company Bullon, which owns the stake, from Ivan Tavrin, a Russian businessman. Mail.ru has raised its stake in Vkontake to 51.99 percent. The company claims that it does not plan to carry out any changes to toperational control. Mail.ru does not intend to fully consolidate Vkontakte in its financial statements upon completion. The acquisition of Bullion gives Tavrin a three-month option to buy the HeadHunter business from Mail.ru.

Categories:

Internet

Companies:

Mail.ru,  Vkontakte

Countries:

Russian Federation

Tags:

Shareholders & subsidiaries, M&A buyouts & divestments

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