MOSCOW Nov 9 Russian email-to-social networking
group Mail.Ru cut its stakes in U.S. internet firms
Groupon, Facebook, and Zygna, according
to the company's website.
Mail.Ru now has a 0.52 percent stake in the world's largest
social networking site Facebook, 0.16 percent of U.S. game maker
Zynga and 0.84 percent of daily deal website Groupon.
As of October 30, it had a 1.17 percent stake in Zynga, a
0.75 percent stake in Facebook and 4.12 percent of shares in
It could raise between $200 million and $250 million from
the sales, said Anastasia Obukhova, an analyst at VTB Capital in
Moscow. Mail.Ru declined to comment on the disposals.
"We've always been very clear that Groupon, Zynga and
Facebook, positioned inside of Mail, are financial assets, not
strategic ones," said Matthew Hammond, the investor relations
director at Mail.Ru Group.
At the end of October, Mail.Ru, part-owned by metals tycoon
Alisher Usmanov, sold 16 million Facebook shares, worth around
$370 million, on top of a more than $700 million sale as part of
Facebook's initial public offering. That was followed by a hefty
dividend payout to Mail.Ru's shareholders.