Russia’s Megafon to buy majority stake in Mail.ru for $740 million

By Maria Kiselyova MOSCOW (Reuters) – Russian mobile operator Megafon has agreed to pay $740 million to buy a controlling stake in internet group Mail.ru from billionaire Alisher Usmanov, who is an investor in both companies. Megafon said it hoped the deal would provide mobile phone users access to a wide range of content through Mail.ru platforms while returning Megafon "to sustainable growth". Megafon is Russia's second biggest mobile company.

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