On Wednesday, following “press speculation,” the Russian Internet group Mail.ru Group and mobile operator MegaFon confirmed to be discussing potential commercial collaboration to “jointly develop new products and services in [Russia].”
“Market dynamics and advances in technology have created favorable conditions for greater cooperation between telecom providers and digital media companies,” the companies note in a joint statement, which makes them “natural partners for such cooperation.”
MegaFon also acknowledged “past and ongoing dialogs between MegaFon and some of the shareholders of Mail.ru [Group],” even though there is “currently no certainty that MegaFon will become a shareholder” of the Internet group.
Should such a case occur, the two entities “would continue operating as separate entities on an arms-length basis, with both management teams dedicated to preserving each other’s corporate culture and governance, ensuring continuity of operating and product development activities, and focusing co-operation on areas of mutual strategic and economic benefits.”
Meanwhile, the companies denied to be involved in “any discussions of any potential merger.”
Russian billionnaire Alisher Usmanov is an important shareholder of both companies, which are listed on the London Stock Exchange. MegaFon’s stock is also traded in Moscow.
