Russia's Wildberries completes controversial merger: CEO

Russia's largest online retailer Wildberries has completed a controversial merger deal, its CEO said Tuesday, following a bitter takeover dispute that led to a deadly shootout at its Moscow office.

Founder Tatyana Kim, Russia's richest woman, and her estranged husband Vladislav Bakalchuk have been embroiled in a public spat for months over Wildberries' plans to merge with outdoor advertising firm Russ Group.

"I am happy to report that the restructuring of our combined company has been completed, and we are ready for new projects," Kim said in a video message on Telegram.

Kim, who recently changed her surname from Bakalchuk, accused her husband and two former executives of trying to mount an armed takeover of Wildberries by storming the company's Moscow offices last month.

Two people were killed in the shootout, which had echoes of the kinds of violent corporate disputes that Russia saw following the collapse of the Soviet Union.

Some 30 suspects were arrested over the incident. Bakalchuk himself was initially detained, though later posted a video message saying he had been released.

Bakalchuk had enlisted Chechen leader Ramzan Kadyrov in his opposition to the deal.

Wildberries was founded in 2004 by Kim, a teacher on maternity leave, together with Bakalchuk, an IT technician.

Kim announced in July that she had separated from Bakalchuk and was getting a divorce.

The tie-up between Wildberries and Russ Group has surprised business analysts.

Often referred to as Russia's Amazon, Wildberries is significantly larger than the Russ Group and operates in the fast-growing online retail sector.

But the two companies secured President Vladimir Putin's approval and say the merger will create a new financial, media and retail behemoth that could rival Western technology giants and boost Russia's economy.(AFP)