...

Uzbek billionaire Usmanov leaves Mail.ru Group to join forces with Alibaba

ICT Materials 22 October 2018 12:41 (UTC +04:00)
USM holding of Alisher Usmanov, the Russian entrepreneur and philanthropist of Uzbek origin, transfer the control over the Mail.ru Group to the company's top managers
Uzbek billionaire Usmanov leaves Mail.ru Group to join forces with Alibaba

Baku, Azerbaijan, Oct. 22

By Fikret Dolukhanov - Trend:

USM holding of Alisher Usmanov, Russian entrepreneur and philanthropist of Uzbek origin, has transferred the control over the Mail.ru Group to the company's top managers, Uzbek media reported referring to the press service of Mail.ru Group.

Thus, USM is no longer the sole controlling party of the Mail.Ru Group, and none of the shareholders alone controls the company through MF Technologies.

Control over the holding's share in Mail.ru Group has been transferred to Boris Dobrodeev, the company's general director.

According to Usmanov, he has been preparing this move for several years. He said that "high-tech companies should be lead by younger generations".

Usmanov added that he was leaving the management of the company "with a light heart."

He also said he plans to announce a charity program at the end of 2018 in the sphere of sports, culture and assistance to children.

He also intends to build the largest e-commerce company in Europe jointly with Alibaba and oust Amazon and eBay.

The main business of Mail.Ru Group is the sale of advertisements through the company's services (Mail.Ru, VKontakte and Odnoklassniki social networks).

---

Follow the author on Twitter: @FDolukhanov

Tags:
Latest

Latest