MTS pays 5 bln rubles for 68.8% of Urent

Moscow. March 7 (Interfax) - MTS PJSC has paid 5 billion rubles in a deal to acquire an additional 68.8% of the Urent scooter rental service.

The deal was announced in January of this year. As a result, MTS became the controlling shareholder of the scooter rental service with a share of 80.58%.

The company published the financial parameters of the deal to increase its stake in the scooter rental operator in its annual report.

MTS paid 4.6 billion rubles in January 2024 and must pay another 400 million rubles by January 2025.

MTS previously owned 11.78% of Urent, for which it paid 740 million rubles, the report says.

Urentbike.ru LLC was registered in 2018. The service operates in 124 Russian cities. The company boasts a fleet of 100,000 scooters and 3 million users.

MTS, Web Ventures and VPE Capital all contributed capital to Urent at the beginning of 2022 as part of a 2-billion ruble investment round.