Mail.ru and Sberbank Form New Services Platform

Date : 11/19/2019 @ 8:36AM
Source : Dow Jones News
Stock : Mail.rugrp S (MAIL)
Quote : 19.01  -0.89 (-4.47%) @ 4:35PM

Mail.ru and Sberbank Form New Services Platform

Mail.rugrp S (LSE:MAIL)
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By Adriano Marchese

 

Mail.ru Group Ltd. (MAIL.LN) said Tuesday that it has signed the final documents to create an online-to-offline services platform with Sberbank Rossia (SBER.MZ).

The Russian internet company, said the partners will invest up to 64.6 billion rubles ($1.01 billion) and hold an equal stake in the food-and-transportation-focused joint venture.

In the future, the company said the JV will consider the possibility of bringing in additional investors to encourage further development of the platform.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

November 19, 2019 03:21 ET (08:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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