However, in the case of Russia, reports Vedomosti, it would only acquire part of the business in order to comply with upcoming foreign ownership restrictions, with the remainder being held by a Russian citizen associated with the fund.
Vedomosti quotes unnamed sources at MTG and Baring Vostok confirming that a deal had been agreed and would soon be signed. Neither disclosed a figure.
Baring Vostok specialises in direct investments in Russia and has raised capital of $3.7 billion. Its investments already include Yandex, Ivi.ru and CTC Media.
As previously reported in Broadband TV News, Leonard Blavatnik agreed in principle in August to buy a controlling stake in the Viasat business in Russia. However, the deal subsequently fell through.