VETEK Media and Media Group Ukraine (MGU, part of the SCM Group) have signed an agreement on the acquisition of a stake belonged to MGU in United Online Ventures (UOV) Internet holding, a leading player on the Ukrainian Internet market, by VETEK Media, MGU said on its Web site.

"The acquisition of UOV is a logical step in the realization of a long-term strategy for the development of online media by our company. In the near term, after the finalization of a deal on the acquisition of a stake belonged to the second shareholder [UMH Group], VETEK-Media will gain full control over UOV," the company said, citing VETEK Media Director Yuriy Rovensky.

"MGU is a systemic long-term investor in media, including online resources, which are the integral part of its assets. MGU and SCM as any investor always consider any changes, including withdrawal from certain businesses, if the conditions proposed are beneficial to us and they are in line with our assessment in the parameters of capitalization and return on investment. MGU continues investing in the development of own online media, which are one of its strategic top-priorities," MGU Director Fedir Oharkov said.

The sum of the deal and other details are not disclosed.

VETEK Group has created a company VETEK Media for the development of media activities, including UMH Group, a large multimedia holding.

UMH Group includes newspapers Argumenty i Fakty v Ukraine, Komsomolskaya Pravda v Ukraine, and weekly magazines Korrespondent, Focus, and Telenedelia. In addition, the holding holds licenses for the publication of the magazines Forbes and Vogue. UMH Group also owns radio stations Avtoradio, Nashe Radio, Retro FM, information Web resources Korrespondent.net, Football.ua, Vgorode.ua, and Internet portals Bigmir.net and I.ua. It is in the top ten biggest players of the publishing market in Russia.

The media holding includes the Ukraina national TV channel, the Football and Football+ sports channels, the regional TV channels Donbass, UFO-TV, Sigma-TV, the Digital Screens video services company, Media Partnership LLC sales house and Tele Pro production company. In addition, Media Group Ukraine jointly with UMH Group and KP Media own United Online Ventures, which integrates the Web portals tochka.net, I.ua and bigmir.net.

United Online Ventures (UOV) is a leading Ukrainian Internet holding and a large player on the Ukrainian online advertisement market.