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Russia's Megafon does not plan to buy out Mail.ru minority shareholders: CFO
December 23, 2016 / 10:04 AM / a year ago

Russia's Megafon does not plan to buy out Mail.ru minority shareholders: CFO

MOSCOW (Reuters) - Russia’s Megafon (MFON.MM) does not plan to buy out minority shareholders in Mail.ru (MAILRq.L) as part of its purchase of a controlling stake in the internet group, Megafon’s Chief Financial Officer said on Friday.

An advertising board with logo of Russian mobile phone operator MegaFon is installed on the roof of a building in Moscow, Russia, February 27, 2016. REUTERS/Grigory Dukor

    “We are not considering this,” Gevork Vermishyan told reporters.

    Megafon said earlier on Friday it had agreed to pay $740 million to buy a 63.8 percent stake in Mail.ru from billionaire Alisher Usmanov.

    Reporting by Anastasia Teterevleva; writing by Maria Kiselyova; editing by Peter Hobson

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