Mail.ru Group increased its stake in social networking “In Contact” to 39.9%

Holding Mail.ru Group bought another 7.5% stake in the largest social network of the CIS “VKontakte”. Now listed on the London Stock Exchange Mail.ru Group owns39.9% of social networking before it belonged to 32.49%. The shares were purchased for 111.7 million dollars, thus implementing its option, with the entire network was estimated at 1.5 billion rubles ($ 50 million), writes rbcdaily.ru

Mail.ru Group increased its stake in social networking "In Contact" to 39.9%

What the company Mail.ru Group intends to further increase the share of the social network has officially recognized Dmitry Grishin at the conference “The RussianInternet Forum” in the spring of this year. “The combination would be appropriate, given the increasing competition between Russian and international networks ofsites”, – said at a conference Grishin.

Then it became known that Mail.ru Group has an option to increase its stake in the equity of “VKontakte” up to 40% and “holding company intends to implement it.”