USM Holding will withdraw from the capital of VK Group by selling its 45% stake in MF Technologies (controls 57.3% of VK Group's voting shares) to SOGAZ Group. According to Kommersant, USM has confirmed the fact of the deal, its terms have not been disclosed.

The SOGAZ Board of Directors “approved a 45% participation in the capital of MF Technologies JSC". The agreement was considered a "promising strategic investment."

USM founder Alisher Usmanov said that he leaves VK Group "at the peak of indicators both in terms of audience and financial metrics." In turn, the CEO of USM Ivan Streshinsky clarified that the holding's business strategy will now “be focused on the “green agenda”, adding that the telecommunications business and related digital projects require“a lot of attention”.

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Ivan Streshinsky, the CEO of USM

At the end of November, Sberbank sold a 36% stake in MF Technologies to Gazprombank for $174.3 million (12.8 billion rubles). The reason for the sale was not specified.

Original (in Russian)