OREANDA-NEWS. VETEK Media has signed an agreement with Ukraina Media Group (part of SCM Group) to buy its share in internet holding United Online Ventures (UOV), the leading player in Ukraine's Internet market.

Ў°The acquisition of UOV is a logical step in our long-term strategy to develop online media business. Once we buy the stock of the second shareholder (UMH group), VETEK Media will have the full control over UOVЎ±, said VETEK Media's Director Yuriy Rovenskiy.

Ў°Ukraina Media Group is a systemic long-term investor in media, including online resources that make an important element of its assets. However, like any other investor, Ukraina Media Group and SCM always look at different opportunities including withdrawal from some businesses if the proposed conditions are beneficial and correspond to our view on capitalization and return of investment. Meanwhile, Ukraina Media Group continues to invest in the development of own online media, which make one of its strategic priorities,Ў± said Fyodor Ogarkov, Ukraina Media Group's Director.

United Online Ventures (UOV) is the leading internet holding and the largest player in the online advertising market of Ukraine. It comprises the biggest national websites Bigmir.net, Tochka.net and I.ua as well as Digimedia trading house and Mi6 internet agency.

The aggregate audience of the UOV websites (Gemius, September 2013) is over 4.5 million visitors a month.

DigimediЁ¤ trading house accounts for about 20% of the media advertising market in Ukraine. It represents the interests of United Online Ventures and the UMH group online resources and many other popular Ukrainian websites with an aggregate monthly coverage of more than 70% of Ukrainian internet users.

According to the agreement between the parties, the amount and other details of the transaction shall not be disclosed.