MegaFon in Formation of AliExpress Russia JV
June 6, 2019
Cleary Gottlieb represented leading Russian integrated telecommunications operator MegaFon in relation to its joint venture to form AliExpress Russia JV.
As a result of the deal MegaFon, Alibaba Group, Mail.ru Group, and Russian Direct Investment Fund (RDIF) established a joint venture to integrate Russia’s key consumer internet and e-commerce platforms, and launch a leading social commerce company in Russia and the CIS, which will operate in compliance with local data protection regulations. The joint venture was created on the basis of the existing e-commerce business of AliExpress Russia and the strength of Mail.ru Group’s social and digital businesses.