OREANDA-NEWS The Memorandum of cooperation was signed today between Mail.ru, Alibaba, MegaFon and the Russian direct investment Fund (RDIF) at the Eastern economic forum.

It was announced that a joint venture specializing in e-Commerce will appear in the framework of cooperation. Alibaba will be the main owner, it is assumed that this company will have 48% of the shares.

The name of the new organization will AliExpress Russia.

The head Of the Russian direct investment Fund Kirill Dmitriev called the agreement of the RDIF, Alibaba, MegaFon and absolutely a landmark deal Mail.Ru on the establishment of a joint venture in the field of social Commerce.

"The FUND, Mail.ru Group and "MegaFon" are getting 52% in the Russian business of the company Alibaba. "The MegaFon " will receive 24%, Mail.Ru Group — 15%, the RDIF — 13%.  Together we will develop e-Commerce, artificial intelligence, and a lot to invest in logistics in Russia", - said the head of RDIF Kirill Dmitriev.

"For the first time in the world, e-commerce is combined with a social network, with an operator. For us, this is absolutely a landmark deal. And many have already estimated that this is one of the most interesting technological transactions in the world in recent years. It is not surprising that this is happening between Russia and China," - said Dmitriev.

MegaFon shares and Mail.Ru the Group responded with growth to the announcement of a joint venture with Alibaba Group.

The Eastern economic forum is held in Vladivostok from 11 to 13 September. This year, Chinese President XI Jinping, who has come to Russia on a working visit, is participating in it for the first time as the main guest. The Chinese delegation at the forum is the most representative - has a thousand people. Among the guests of the forum - and Alibaba founder Jack MA Yun.

In total, about 5,000 guests from 60 countries, including hundreds of heads of both Russian and foreign companies, came to Vladivostok. The current forum was the largest in three years.