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This article was published on September 16, 2014


Mail.ru Group pays $1.47bn to take full control of ‘Russia’s Facebook’ Vkontakte

Mail.ru Group pays $1.47bn to take full control of ‘Russia’s Facebook’ Vkontakte
Ben Woods
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Ben Woods

Europe Editor

Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional online poker player. You can contact him via Twitter or on Google+.

Russian Internet company Mail.ru has agreed to pay $1.47 billion to purchase just over 48 percent of Vkontakte, making it the sole owner of the Russian social network.

The deal, announced today, takes Mail.ru’s total investment in Vkontakte to $2.07 billion. As part of the agreement, ongoing litigation and shareholder disputes have also been settled, Mail.ru said.

UCP, Mail.Ru and Pavel Durov have also agreed that simultaneous with this acquisition all the outstanding litigation, and claims concerning VK and related matters between these parties will be dropped with immediate effect.

➤ MAIL.RU GROUP LIMITED Acquisition of 48% of Vkontakte [Mail.ru]

Image credit: Gil C / Shutterstock.com

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