Deals
Usmanov Tightens Grip Over Russian Social Network VKontakte
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Billionaire Alisher Usmanov tightened his grip over VKontakte, with his Mail.ru Group Ltd. agreeing to boost its stake in Russia’s largest social network to 52 percent.
Mail.ru, an Internet company controlled by Usmanov, agreed to buy a 12 percent stake in VKontakte from Russian executive Ivan Tavrin, according to a statement from Moscow-based Mail.ru today. No price was disclosed. Mail.ru won’t change VKontakte’s operational control or consolidate it into its accounts.