Amazon, SoftBank Held Talks to Acquire Russian E-Retailer Ozon, Shareholder Says

Amazon, SoftBank Held Talks to Acquire Russian E-Retailer Ozon: Shareholder

by Jyoti
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Global retail big Amazon and Japan’s SoftBank have made approaches to Russian conglomerate Sistema a couple of doable acquisition of its on-line retailer Ozon, Sistema’s majority proprietor Vladimir Evtushenkov stated on Saturday. It’s not instantly clear if talks are nonetheless underneath method or have ended. Sistema has stated it was searching for companions to put money into Ozon, by which it holds a greater than 40 %.

“The interest to Ozon among foreign investors is very high,” Evtushenkov advised reporters after Sistema’s annual normal assembly.

“I can tell you that this is the only one company in Russia at which Amazon was looking from the participation point of view,” he stated, including that SoftBank was additionally curious about Ozon.

Ozon chief govt Aleksandr Shulgin met along with his Amazon counterpart, Jeff Bezos, “five or six months ago,” stated Evtushenkov.

A spokesman for Sistema declined to remark additional.

Ozon is the topic of curiosity from Russia’s largest lender Sberbank, with 4 sources telling Reuters this month that the financial institution has been in talks to purchase a big stake.

© Thomson Reuters 2020

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