The shares of VK have jumped 6.6% on the news that the company will now have shareholders closely affiliated with the state.
Sogaz is affiliated with state natural gas giant Gazprom and will now indirectly control 25.8% of voting shares and a 2.2% economic interest in VK, one of the major digital players in the Russian economy.
Apart from 23% stake in Sogaz of Gazprom, another major shareholder in Sogaz (35%) is
USM will also sell another 9% in MFT to Gazprom-affiliated entity Gazprombank. Gazprombank most recently bought a 36% stake in MFT from
For USM, which focuses on mining, telecoms and technology, exiting VK is a logical decision, as three years ago Usmanov's holding had already handed over control of his share to VK’s management.
Previously USM also announced selling off IT engineering company
"At this stage it remains unclear how involved Sogaz is planning to be in VK’s strategy and governance," the analysts note.
While the amount of the deal is undisclosed, the Sogaz chairman
VK’s one of the main assets is
The businessmen worked as the company's director-general but was fired in
The analysts surveyed by The Bell believe that the new shareholders of VK could reshuffle the board and the management of the internet major, while
Notably, Sogaz, Gazprombank and Gazprom have strong media asset in Gazprom Media group and
Usmanov exits VK while it is in good shape, and so that USM can focus on its core businesses that include mining, green technology, telecoms and IT, a source in the company told bne IntelliNews.
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