Russia's Ozon says it fails to redeem some bonds, risking default

FILE PHOTO: A view shows the pick-up point of the Ozon online retailer in Moscow, Russia March 16, 2020. REUTERS/Evgenia Novozhenina/File Photo/File Photo

(Reuters) - Russian e-commerce player Ozon said on Monday it has failed to redeem some bonds to a group of holders, putting it at risk of a potential default, but said it is negotiating with bondholders to find a solution.

Nasdaq-listed Ozon, trading in whose shares has been suspended since Feb. 28, said it is restricted from sending cash from its Russian subsidiaries to its Cypriot holding company, Ozon Holdings Plc, which is the issuer of the bonds.