MegaFon in Formation of AliExpress Russia JV

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.