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Russia’s Mail.Ru ends VKontakte dispute with $1.5 billion deal

16
Sep
2014

By Maria Kiselyova MOSCOW (Reuters) – Mail.Ru Group , majority-owned by Russias richest man Alisher Usmanov, has resolved a shareholder dispute over the countrys biggest social network VKontakte (VK), buying out a rival co-investor for $1.47 billion. The deal could clear the way for a revival of plans for a stock market listing of VKontakte, scrapped in 2012 because of poor market conditions. VK, known as Russias answer to Facebook , has been the focus of an ownership battle since April 2013 when investment fund United Capital Partners (UCP) bought a 48 percent stake. …

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