Russia-based internet group Mail.ru has sold a 4% stake in Russia-based payment services firm Qiwi for about $80m, according to Forbes Russia.
Mail.ru did not reveal the buyers of the shares, stating only that they were mainly divested to US-based investment funds. Its stake in Qiwi now stands at approximately 1.3%.
The internet company owned a share of Qiwi as large as 25% in 2010, but has since been gradually selling off stock, receiving $73.2m for a 2.4 million share sale in October 2013, which reduced its stake to 10.4% in the process.
Mail.ru has made over $300m from selling its shares in Qiwi, which went public on Nasdaq in 2013.