Page 2 - bne_newspaper_August_02_2019

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August 2, 2019 www.intellinews.com I Page 2
Discussion of foreign ownership cap on "significant" internet companies rocks Yandex shares
The news feed to the fears that Yandex has fallen out of state's favour, after the state-controlled Sberbank moved to boost its largest rival Mail.
ru and unconfirmed reports that Sberbank-Yandex joint venture Yandex.Market could be broken down.
Russia earlier caused chaos in the publishing industry by introduction a similar bill that limits the foreign participation in the publishing business to 20%.
The Bell claimed that the new bill was designed in the presidential administration, but it got
a strong pushback from the government and the industry.
On Monday July 29 the Minister of Communication Konstantin Noskov has slammed the bill as dangerous for the development of digital economy and competitiveness in Russia, according to Kommersant daily. Deputy Prime Minister
Maxim Akimov called the bill "devastating".
"If passed, the draft bill would add significant uncertainty to the investment cases of Russian internet and telecom companies," BCS Global Markets commented on July 29, arguing that "the law is unlikely to pass in its current form and compromise will be found."
To remind, in 2018 unconfirmed reports already suggested that the government and the Kremlin would like to exercise more control on private Yandex. Then Sberbank, which holds a "golden share" in the company, reportedly planned to gain more control in the company or even to stage a hostile takeover of Yandex.
Russian Market Data Value
1M YTD
Equity Indices
RTSI
1,346
-4%
25.9
MOEX
2,729
-3%
15.1
MSCI EM
1,025
-4%
6.0%
S&P
2,954
0%
19.0%
NASDAQ
26,583
0%
23.0%
DAX
8,111
-2%
16.0%
FTSE
12,253
1%
13.0%
Commodities
Price, $
1M YTD
Brent
61.1
-6%
13%
WTI
54.0
-9%
19%
Urals
74.2
-4%
65%
Gold
1,445
4%
13%
Silver
16.3
8%
5%
Nickel
14,285
16%
35%
Copper
5,876
-2%
-2%
Aluminum
1,757
-1%
-6%
FOREX
Value
Russia sectors performance % YTD
1M YTD
EUR/RUB
71.34
1%
-10%
Russia sectors performance % YTD
Oil & Gas Utilities Financials Consumers Telecoms
M&M RTS MOEX
30 30
19
25.9 15.1
22 22
14
0 10 20 30 40
Source: MOEX, BCS GM
source: MOEX, BCS GM
Sectors: % return YTD