Mamba: Finam may consider acquiring Mail.Ru's stake (translated)
25 APR 2018
Russian investment company Finam may consider acquiring Mail.Ru Group’s [LSE:MAIL] stake in Mamba, although Mail.ru has not submitted such a proposal, reported Vedomosti, citing Finam President Vladislav Kochetkov.
Mail.Ru, the Russia-based Internet holding, owns a 31.19% stake in Mamba while the rest belongs to Finam, the online version of the Russian daily reported on 24 April.
Kochetkov's comment came in response to a query about buying out a stake in Mamba from Mail.Ru.
Mail.Ru has lowered the valuation of its stake in Mamba by 47% the item reported, citing the holding’s annual 2017 financial statements. The book value of the asset for 2017 decreased from RUB 584m (USD 9.4m) to RUB 308m, the financial statements show. The Mail.Ru press office refused to comment on the plans in regard to Mamba, according to the report.
Mail.Ru acquired its stake in Mamba from Finam in 2007 for USD 18m.