Telecom operator MTS has invested RUB 1.15 billion in Russian e-commerce company Ozon Holdings to increase its stake from 11.2 percent to 13.7 percent.
The investment in an e-commerce company is part of the 3D strategy followed by MT for the purpose of expanding the digital services to its wireless clients in Russia and CIS nations. MTS earlier acquired Tiсketland.ru and Ponominalu.ru in order to become a strong player in online retail.
MTS also signed option agreements, which give the company right to acquire shares within 12 months for up to RUB 582 million to increase its stake to 14.7 percent.
MTS became the shareholder of OZON in April 2014 through acquisition of 10.8 percent stake for $75 million and later increased the stake to 11.2 percent through transactions with minority shareholders.
“Ozon has achieved exceptional revenue growth and improved operational performance. Ozon can now use the additional resources to increase its reach and improve its efficiency,” said Alexei Kornya, vice president, Finance, Investment, Mergers and Acquisitions, MTS.
Ozon is one of the largest multi-category online retailers in Russia focusing on over 20 categories. The company owns its own logistics network with 60,000 sq.m. warehouses. Ozon has doubled the number of unique buyers to 3.2 million people.
