Dutch investor Prosus to write off $700 million stake in VK Group

VK

07/03/2022 12:26

AMSTERDAM, March 7 (Reuters) - Prosus  PRX.AS , the Dutch
technology investor, said it was writing off its stake in
Moscow-headquartered online platform VK Group, which it said was
valued on Prosus's books at $700 million.
    VK Group Ltd., known until October as Mail.Ru, is one of
Russia's largest internet companies, known for social networking
and gaming. It has a listing on the London Stock Exchange and is
registered in Cyprus, with headquarters in Moscow.
    "Prosus asked its directors on the VK Board to resign their
positions," the company said in a statement. Prosus owns 25.9%
of VK, according to Refinitiv data.  urn:newsml:reuters.com:*:nFWN2VA0CB

 (Reporting by Toby Sterling; Editing by Edmund Blair)
 ((toby.sterling@thomsonreuters.com;))