Support The Moscow Times!

Russian Media Group Rambler Considers Selling Shares

The listing is planned in two to three years.

Oligarchs Alexander Mamut and Vladimir Potanin formed Rambler in 2013. gerastar.ru

Russian online media major Rambler, controlled by oligarch Alexander Mamut, is considering an initial public offering, the RBC news website reported, citing the head of the company Raphael Abramyan, who sees the company being listed in two to three years.

An exchange for the listing has yet to be chosen, Abramyan said.

In April Russia's largest bank Sberbank acquired 46.5% in Rambler Group and said it would invest in the media holding. Most recently the bank said that it will promote Rambler’s online cinema Okko in its branches, and will grant the Rambler Group access to its client base.

Online media assets are in focus in Russia, as prior to the deal between Sberbank and Rambler one of Russia's big four telecoms operators Mobile TeleSystems (MTS) said it was considering the acquisition of the so-called “Russian Netflix," online cinema provider ivi. 

Rambler was formed in 2013 when tycoons Alexander Mamut and Vladimir Potanin joined their video assets. The holding includes online and traditional cinemas, anchor portal Rambler.ru, a number of popular internet publications and portals such as Lenta.ru, Gazeta.ru, Afisha, and others. In 2016 Mamut bought out Potanin’s stake for about $295 million. 

This article first appeared in bne IntelliNews.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.