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Tuesday November 20, 2012

Russia’s Mail.Ru sells out of Zynga and Groupon

MOSCOW: Russian email-to-social networking group Mail.Ru has sold all the shares it owned in US daily deal website Groupon and gamemaker Zynga, according to the company's website.

Mail.Ru has been cutting its holdings in US Internet companies, including social networking site Facebook, gradually this year. As of Nov 9, it owned 0.16% of Zynga shares and 0.84% of Groupon.

The firm's managing director Matthew Hammond said last week that Mail.Ru would consider using proceeds from the asset sales to pay a special dividend and would like to buy a larger stake in social network Vkontakte.

Mail.Ru now has less than 1% of Facebook shares. - Reuters

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