Sberbank, Mail.Ru discuss possible IPO for online food, taxi venture

FILE PHOTO: Clocks are seen at the trading floor of Russia's lender Sberbank headquarters in Moscow, Russia January 30, 2018. REUTERS/Tatyana Makeyeva - Copyright TATYANA MAKEYEVA(Reuters)

By Reuters

Published on 19/11/2019 - 20:06•Updated 19/04/2024 - 13:19

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MOSCOW (Reuters) - Sberbank <SBER.MM> and internet company Mail.Ru <MAILRq.L> have discussed the possibility of holding an initial public offering for their joint food and taxi platform, the Russian state lender said on Tuesday.

Sberbank will not own a controlling stake in the joint venture, Sberbank said. It added that Mail.Ru's board of directors will have a Sberbank representative on it.