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Russia's Rambler sells ad unit to Google

MOSCOW, July 18 (Reuters) - Rambler Media RMG.L, the British-registered owner of Russia's Rambler Internet portal, said on Friday it has agreed to sell the Begun advertising agency to Google Inc GOOG.O for $140 million.

Rambler, which currently owns 50.1 percent of Begun, said in a statment it would first buy the remaining 49.9 percent stake from Bannatyne Limited and then sell the entire firm to Google.

It expects to receive a net gain from the disposal of around $50 million which will be used to finance its investment programme and potential acquisitions, the company said. (Reporting by Maria Kiselyova; Editing by Quentin Bryar)

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