Kremlin-backed VK fails to buy Russia’s most wanted internet company
Despite support from the Kremlin, internet giant VK was unable to purchase Russia’s biggest ad service, Avito. The service’s South African owner, internet group Naspers, flatly refused to sell to such a toxic buyer. As a result, a rival bidder acquired Avito – Russian businessman Ivan Tavrin, who is close to billionaire Alisher Usmanov. He bought a company valued at $8 billion before the war for a mere $2 billion. However, that is twice what VK was offering.