Goltsblat BLP advises MTS on acquisition of a controlling stake in online cash register start-up LiteBox


Goltsblat BLP, the Russian practice of the international law firm Berwin Leighton Paisner (BLP), has advised PJSC MTS, the leading telecommunications provider in Russia, on its acquisition of a controlling stake (50.82%) in the Russian retail software developer Oblachny Retail LLC operating under the LiteBox brand.

MTS has also entered into an option agreement with the Oblachny Retail shareholders, under which MTS has both a right and an obligation to purchase, at the request of minority shareholders, their shares at a price based on the company’s 2019 financial results. 

Goltsblat BLP team led by Ekaterina Dedova, Partner, Corporate/M&A and Head of TMT included Ian Ivory, Partner and Head of Corporate for Asia, Senior Associate Dimitri Antipin and Associates Anastasia Kudryashova and Mikhail Filatov. Senior Associate Anton Nefedev and Junior Associate Ksenia Danshina from IP practice, and a number of other Goltsblat BLP lawyers also contributed to this cross-practice deal.

PJSC MTS is a Russian telecommunications operator headquartered in Moscow. The Company offers mobile communications (GSM, UMTS (3G) and LTE standards) and landline phone services, broadband Internet access, mobile, cable, satellite and digital TV. Its major shareholder is AFK Sistema, a Russian publicly-traded diversified holding company.

Oblachny Retail LLC has been involved in retail software development since 2010. The start-up’s key product is LiteBox, a cloud-based cash register solution featuring end-to-end automation of cash services and online retail operations, including inventory and procurement management, sales and KPI analysis, as well as loyalty programme management.

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