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MegaFon announces full settlement of its obligation in relation to acquisition of a controlling stake in Mail.Ru Group
Moscow, Russian Federation (29 December 2017) - Public Joint Stock Company "MegaFon" (LSE: MFON), a pan-Russian operator of digital solutions ("MegaFon" or the "Company"), announces the completion of all payments due under the Share Purchase Agreement for its acquisition of an approximately 63.8% voting stake in Mail.Ru Group Limited (LSE: MAIL) ("Mail.Ru").
MegaFon has made the final payment of the consideration under the Share Purchase Agreement dated as of 23 December 2016 (the "Agreement") with New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, subsidiaries of USM Holdings, a controlling shareholder of MegaFon. Pursuant to the Agreement, MegaFon acquired 11.5 mln Class A shares and 21.9 mln ordinary shares representing an approximately 15.2% of the charter capital and 63.8% voting stake in Mail.Ru on 9 February 2017 (the "Closing date"), as earlier reported at:
The payment was in the amount of US$100 million plus interest accrued thereon from the Closing date, as earlier announced at: https://corp.megafon.com/investors/news/capital_market_releases/20170123-1238.html.
Additional information related to the acquisition of 63.8% voting stake in Mail.Ru is available at:
For More Information:
Investors: Dmitry Kononov Tel: + 7 926 200 6490 firstname.lastname@example.org
Director for Investor Relations and M&A
Media: Yulia Dorokhina Tel: + 7 926 200 6854 email@example.com
Head of Media Relations
Notes to Editors
MegaFon PJSC is a leading Russian integrated telecommunication service provider, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange and the London Stock Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru
Cautionary Statement Regarding Forward Looking Statements
Some of the information in this document may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "forecast", "intend", "will", "could", "may", or "might" the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.
Statement Regarding Inside Information
Some of the information in this document may be inside information. The subject matter, the identity of the issuer, the identity of the persons making the notification and their titles, and the date and time of the notification are all as set forth above.
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