Sberbank Signs Pact to Buy Shareholding in MF Technologies JV
29 10월 2019 - 9:46PM
Dow Jones News
By Ian Walker
Sberbank Rossia (SBER.MZ) said Tuesday that it has signed a
nonbinding agreement with Gazprombank (GZPR.RS) to buy a minority
shareholding in MF Technologies, the controlling shareholder in
Mail.ru Group Ltd. (MAIL.LN).
The Russian bank didn't say exactly how many shares it was
buying or give any indication of price. Mail.ru GDRs closed in
London at $20.78 Monday, implying a market capitalization of $4.6
billion.
MF Technologies is a joint venture formed last year by
Gazprombank, MegaFon (MFON.MZ), Rostec and USM Holdings.
Sberbank said it shares and supports the strategy pursued by
Mail.ru, which focuses on "technology leadership, a wider range of
high-quality services meeting clients' everyday needs and greater
customer experience."
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
October 29, 2019 08:31 ET (12:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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