Quoting four industry sources, RBK reports that Megogo has been valued at R9 billion (€100.2 million) and a transaction would only cover the company’s Russian business. Furthermore, any deal is unlikely to take place sooner than six months from now.
Megogo was established in 2011 by the Ukrainian entrepreneur Vladimir Borovik. It has offices in Russia, Belarus, Latvia, Kazakhstan, Moldova and Azerbaijan and 58 million unique users each month.
Bermuda-registered Veon is based in Amsterdam and owns, amongst others, Russia’s VimpelCom and Ukraine’s Kyivstar. The former has worked with Megogo since 2017, offering its services to subscribers.
Although the ownership of Megogo is unknown, its Russian business is believed to be owned by Cypriots Dimostenis Christomilas and Alexandros Gavriilidis through a chain of companies.