Joint Venture Of Russia's Sberbank, Mail.ru Group May Go Public In 3-5 Years - MRG CEO

Joint Venture of Russia's Sberbank, Mail.ru Group May Go Public in 3-5 Years - MRG CEO

A joint venture of Russia's Sberbank and internet giant Mail.ru Group (MRG) may be ready for the Initial Public Offering within three to five years, Boris Dobrodeev, the CEO of MRG, said Tuesday

MOSCOW (UrduPoint News / Sputnik - 19th November, 2019) A joint venture of Russia's Sberbank and internet giant Mail.ru Group (MRG) may be ready for the Initial Public Offering within three to five years, Boris Dobrodeev, the CEO of MRG, said Tuesday.

The two companies said earlier in the day they had signed documents on the joint venture and were expecting to complete the deal by the end of the year.

"We think this will be the joint decision of the two shareholders. We think, certainly, first of all, we are long-term investors and we think this is three to five years," Dobrodeev told a phone press conference, when asked about the potential IPO date of the joint venture.

The companies said they were planning strategic cooperation on the digital economy and artificial intelligence.

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