Large Acquisition in Russia: Mail.Ru
Mail.ru, the owner of the giant social media service, considered as Russia’s Facebook, was bought by the Russian GSM operator, Megafon.
Megafon, the Russian mobile operator, announced that they have bought the the Russian-based company, the major e-mail service of the country, for 602 million pounds of majority shares.
At the end of the purchase, Megafon had a share of 63.8% in mail.ru. The shopping process needs to be approved by shareholders and the public authority, but all transactions are expected to be completed by the first quarter of 2017, and Megafon is expected t0 take control of the e-mail service at this time.
Megaphone is rival to Facebook
Founded in 1999, the company is Russia’s most popular e-mail service, but its main weight is that it has VKontakte (VK) service, known as Rusian’s Facebook.
VK in Russia is used more than Facebook, but VK’s founder had to flee the country recently as a result of the dispute he had with Putin. Meanwhile, the share of VK sold to the email service for $ 1.4 billion. Now 63.8% of those shares are in the GSM operator Megafon.
It is also possible that Megafon will turn VK into an international social media service.