Mail.ru Group ceased to be a shareholder of the world's largest coupon service Groupon and a developer of games for social networks Zynga. Mail.ru Group (worked as DST at that time) spent $147.7M in order to enter the capital of these companies in 2010, but it brought no profit: the company made only about $125.2M for the sale of the shares.
Mail.ru Group is no longer a shareholder of Groupon and Zynga. These assets were financial, not strategic, and we planned to implement them on appropriate terms focusing on our core business, - Mail.ru Group says.
Analysts say that it is not the best time for transactions, because at the beginning of October Groupon was trading at $5.5 per share, and Zynga in July - above $5, and last week on Thursday after the close of NASDAQ Groupon securities were worth $2.9 and Zynga - $2.29.
Either Mail.ru really believes that the quotes of Zynga and Groupon could fall even lower, or they need the money, - the senior analyst of Sberbank Investment Research Anna Lepetukhina says.