The Russian government approved the merger of Wildberries and Russ and has already appointed a curator for the deal, RBC has learned. The goals of the merger are to create a payments system that “bypasses SWIFT” and creates a competitor to larger international platforms such as Amazon and Alibaba.
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One of the goals of the merger of Wildberries and Russ is to create a “without going through SWIFT” payment system for ruble payments around the world. RBC spoke about this with reference to sources.
In addition, the agreement between the companies implies the creation of a competitor for the largest international platforms, such as Alibaba, Amazon, Alphabet.
The key target audience for the new digital advertising platform will be small and medium-sized businesses. The parties to the transaction will be responsible for ensuring the development of the software necessary for the project.
According to the publication, the Russian government approved the merger and appointed a supervisor for the transaction: the deputy head of the presidential administration, Maxim Oreshkin.
According to the publication’s sources, the agreement will not violate the rights of other participants in the e-commerce market. The FAS made a positive preliminary assessment of the merger, stating that it could have a positive effect for companies and consumers.
On June 18, Wildberries Marketplace and outdoor advertising operator Russ Group announced a merger to create “the ultimate digital commerce platform.”
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
