MOSCOW, may 8. /TASS/. Operator “MegaFon” creates joint venture for the development of digital services and projects in the field of digital economy Gazprombank, Rostec and its controlling shareholder USM Holdings Alisher Usmanov.
The operator reported that reports in SP of 11.5 million shares Mail.ru Group class And $450 million Package of 5.23% economic stake in the company, or 58,87% of the vote. Now “the Megaphone” belongs to 15.2 percent economic stake Mail.ru Group, or 63.8% of the voting shares.
Instead of “Megaphone” will receive a $of 247.5 million before taxes – these funds will help to reduce the debt burden of the operator. By the end of 2017, the net debt of “MegaFon” in the Telecom segment amounted to 234,5 billion.
The transaction price implies a premium to the market price of securities Mail.ru Group on may 4, 2018 in the amount of 29% – these terms are more favourable than in the framework of the purchase transaction, MegaFon stake in Mail.ru Group in February 2017.
How and when this will be
SP will be created on the basis of JSC “MT technology” (MFT). Now this structure is owned 100% subsidiary of “MegaFon” Lefbord Investment Limited.
“Under the deal, Gazprombank, will purchase Leftbord 35% stake in ITF USM – 9% and “assistance” – 11%. Following the transaction, Lefbord remains at 45% of the shares. As part of the transaction of 100% shares of the ITF was estimated at $450 million,” reads the press statement.
After the closing of the transaction in the direct possession of “MegaFon” are 21,94 million ordinary shares representing 10% of the economic shares of the Mail.ru Group. “At present, MegaFon does not plan to sell this stake,” reported the operator.
Executive Director of “MegaFon” chief Vermishyan told TASS that the company plans to close the deal in may. “Yesterday we received the decision of the Board of Directors of the company. In may we plan to close the deal,” he said.
Profit of 12 billion rubles
According to Vermishyan, MegaFon estimates cash profit from investment in Mail.ru Group 12 billion rubles. “The total package 58,87% of the voting shares Mail.ru Group is estimated at $450 million For us, it is the monetary return on investment of approximately 12 billion rubles,” – he said.
Assessment package $450 million corresponds to approximately $39 per share, and “Megaphone” to buy the paper Mail.ru Group $22 per share, said Vermishyan. “The difference between the price today and the price of our entrance – it is the monetary profit,” he added. Over 63.8% of the voting shares Mail.ru Group MegaFon paid $740 million
USM Holdings manages assets of businessman Alisher Usmanov. Currently, the group is a major shareholder in MegaFon, and controls 56,32% stake. Stock Mail.ru Group last year “the Megaphone” to buy from the structures of Usmanov.
The JV will combine the expertise of leaders in the telecommunications, IT-business, financial services and hi – tech industries to reach new markets and create industrial solutions, said in a statement.
Together with partners “the Megaphone” plans to implement a number of projects, including the creation of software products aimed at the digitization of the work of large companies and the development of solutions based on the blockchain.
Rostec, who plays one of the key members of the direction “Formation of research competences and technological groundwork” programs “Digital economy”, will use his experience in the development and implementation of digital technologies, said TASS press-service of the Corporation.
“The most important project, active work on which is already underway, will create a financial digital platforms on the basis of which the parties will develop high-tech services: payment, credit and other digital products. For this purpose, “MegaFon”, Mail.ru Group, USM and Gazprombank plan to create a company Digital JV (DJV)”, – stated in the message.
The plans include the formation of a joint investment Fund to invest in promising technology companies.
Since the purchase of the shares in Mail.ru Group in February 2017, the operator tried to remove the synergy from this partnership, said Executive Director of “MegaFon”. “Something we did very well, something did not work – for example, we have decided to close this project, as a VK Mobile. Now we see that synergy across industries in a broader group of participants can bring much larger benefits and increase shareholder value,” said Vermeren.
MegaFon “aims to play a leading role in the digital economy of Russia”, said MegaFon, citing CEO Sergey Soldatenkov. “Worldwide, there is the joint effort of leaders in the telecommunications, high-tech and financial markets to create new digital products and services. In this regard, we have joined efforts with leading domestic players in these markets to build a digital Bank and a more active work in the corporate segment,” he said.
Soldatenkov believes that the partnership will allow MegaFon to participate in a greater number of projects and will ensure the operator to enter new growing markets of the digital economy.
The goal of partners is to establish a platform that will allow you to generate not just new products but a whole ecosystem on the brand-new digital financial instruments, USM reported, citing the head of the USM Management Ivan streshenskogo. The parties have experience of successful cooperation and a common view on the future of the digital industry, he said.