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two rounds, Samsonova told the press back in 2016. She did not disclose the investors, only pointing that those were private individuals. Analysts surveyed by Vedomosti daily believe that Yandex could have paid several million US dollars for the service. Previously Yandex launched its own similar service Znatoki, working on the same principle, but the service was not operating as steadily as TheQuestion, Vedomosti reported on March 12. "Yandex is rapidly expanding its ecosystem and is penetrating deeper into the everyday life of Russians," Sberbank CIB said in a report on the company issued on March 13. In the report the analysts also noted higher user engagement and stickiness improving for media services of Yandex, the indicators which TheQuestion acquisition could further improve.
Chinese online retailer AliExpress is to launch the sales of cars in Russia
teaming up with Chinese carmaker Chery, Kommersant daily reported on March 5 citing the representatives of the company. Cross-over models Chery Tiggo 3, 4, 5 and 7, as well as accessories and spare parts will be for sale on AliExpress, with the line of available car brands and models to be expanded in the future. Notably, Chery Avtomobili Rus plans to eventually start assembly of the vehicles in Russia. Currently Chinese brands account for only 2% of total car sales in Russia, with Chery Tiggo 3 being the third most popular Chinese model behind Lifan with about 3,000 units sold. The sale of new cars grew for the second year in a row in 2018 after nearly five years of contraction, the Association of European Businesses (AEB) reported on January 14. In 2017, the new car market grew by 12%, and in 2018 by 13% to 1.8mn vehicles. The sales of passenger cars and light commercial vehicles in Russia in 2019 will grow by 3.6% to 1.87mn units, according to AEB.
9.2.8 Telecoms corporate news
Nordic telecom major Telenor will sell 100mn shares in Russian mobile major VEON, selling 5.7% of its share capital at $2.16 per ADS, the company said on March 27. The offering is expected to close this week implies 8% discount to current share price. Telenor continues to cut its stake in VEON (former VimpelCom) and will bring its stake to 9% after the deal. "No surprise that Telenor is cutting stake, but we did not expect it while Veon share price is at lows," BCS Global Market commented on March 27. The analysts warn that the overhang in VEON shares will persist as Telenor will keep 9% stake. Telenor would raise about $213mn from the deal. BCS GM also reminds that Telenor has outstanding convertible bonds maturing in September with Veon shares as an underlying asset (conversion price $3.9).
Revenue of telecom infrastructure operator Russian Towers increased 35% in 2018, President Alexander Chub told reporters on March 20 without disclosing absolute figures. Revenue amounted to 2.55bn rubles in 2017, meaning the 2018 revenue rose to above 3bn rubles. Russian Towers said 91% of revenue came from the country’s four leading mobile operators: MTS, MegaFon, VimpelCom, and T2 RTK Holding. The company had more than 4,000 units of infrastructure in 60 regions as compared to 3,200 in 55 regions in 2017. The share of urban infrastructure in the company’s portfolio rose to 56% in 2018 from 46% in 2017. Russian Towers expects its revenue to ascend 25% in 2019.
Major Russian operator Mobile TeleSystems (MTS) posted 11% revenue growth under IFRS in the fourth quarter of 2018, 6% year-on-year Ebitda advance and 30% y/y net income growth, all coming in above the consensus
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