MANZHEROK /Altai Republic/, September 7. /TASS/. The transaction between Sberbank and Mail.ru Group that are currently setting up a joint venture, is to be closed by the end of the year, Chief Executive Officer of Russia’s top lender Herman Gref told reporters on Saturday.

"In terms of timing, the deal is to be closed by the end of the year, no earlier than November, in November or December," he said.

Earlier reports said that Sberbank and Mail.ru Group would set up a joint venture based on Delivery Club, a food delivery service, and Citymobil, a taxi service, with investments worth up to 64 bln rubles ($1.01 bln).