Home Business LeEco or “VimpelCom” can buy Russian online cinema Okko

LeEco or “VimpelCom” can buy Russian online cinema Okko

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One of the largest legal online cinemas in Russia Okko negotiates for selling its assets.

The talks are actually under way with potential buyers like the Chinese corporation LeEco and PJSC “VimpelCom” (“Beeline” brand). This information was proved by sources of “Izvestia”. Okko does not deny the negotiations with the Chinese corporation, but it did not confirm the conversation with Beeline. The company refused to comment on the matter as well.

Let us recall that the online cinema Okko ranks the second among all Russian legal video services in terms of revenue.

According to the edition, the Chinese corporation has already held similar talks with TVZavr and Tvigle. LeEco points out that the company has held discussions with the largest Russian video services, since the purchase of online cinema is important for it to enter the Russian market.

One of the “Izvestia”’s informants remarks that LeEco’s negotiations with major online cinemas are aimed at determining the value of each player and studying the Russian market as a whole.

“VimpelCom” also intends to enter the online cinema market in Russia. Previously, the company already announced similar plans and is currently engaged in purchasing content. According to the “Izvestia”s source, there is a high probability that “Beeline” is about to acquire the video service Okko, for not to set up its own platform.

According to analysts, the Russian mobile operators are searching for new ways of earning, as the cellular market is shrinking and bringing a poorer income. That is why the companies consider an option of entering adjacent markets. In such situation, they need a “fast start”, i.e. a purchase of existing video services, since a new platform setup is quite risky and can take long.

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