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NIBs
June 2019 www.intellinews.com I Page 26
VTB holds 50%, Invintel BV Alexey Mordashov 40% and 10% belongs to the Bank of Russia of Yuri Kovalchuk and his partners.
Russia's Yandex could expand management motivation programme to 20% of capital
Russia's internet services major and most valu- able digital company Yandex asked shareholders to approve a plan to extend the management and staff incentive programme to 20% of capital from 15%, Vedomosti daily reported citing the materi- als prepared for the AGM of June 27. Currently only about 2% of the incentive programme has not been distributed.
"The change would be technical, as it only reflects the actual pace of the allocation of incentives rather than any change of pace," BCS Global Mar- kets commented on June 14. The analysts also note the possibility of share buybacks as a source for the program.
Under the new proposal, another 5%, for a total of 7% of the capital would to be distributed within 2-3 years to Yandex employees. "The actual ‘burn’ rate for the program for 2017-18 was just above 2% a year," BCS reminds.
Hungarian startup to revolutionise parking
An underground car park in Budapest where Rol- let's services are available.
Hungarian startup Parkour Technologies has developed a seamless drive-through payment app called Rollet that could revolutionise the way motorists pay for parking.
The developer of the app was founded in 2017 from a HUF124mn (€385mn) capital investment by state-owned venture capital fund Hiventures. It has attracted some HUF600mn from other investors. The unique selling point of the service is that pay- ment is made through the "visual identity" of the
car, which allows motorists to seamlessly enter and exit a garage as payments are automatically handled behind the scenes.
As the car approaches the parking gate, it opens automatically after the parking fee is deducted.
There is no additional charge for using the app for parking, so users pay the same as they would when buying a ticket in a traditional mode.
The service made its debut a year ago in Debre- cen, where the company is based with 20 staff. The automated payment system is currently available in eight parking lots at Hungary’s sec- ond largest city. The service is also available
at Debrecen airport, where passenger traffic is expected to climb to 700,000 this year. Parkour Technologies launched the service in Budapest at a dozen parking lots this year.
Russia's Rostelecom major to get another state order boost
Russian state-controlled integrated telecom major Rostelecom won the state tender to con- nect state institutions to a fibre optic internet in 12 Russian regions, Kommersant daily said citing unnamed sources.
Reportedly Rostelecom won the tender with a bid of RUB2.75bn for the work, which is two times less than the starting price of the proposal. The company will reportedly get fibre internet con- nection contracts in 12 out of 14 regions from the tender, connecting law enforcement agency branches, local authority offices, hospitals, edu- cational institutions, etc.
Fixed broadband revenues gained 9% year-on- year in 1Q19 and helped Rostelecom's revenues grow by 3% y/y in the reporting quarter.
Overall the state fixed broadband connection programme amounted to RUB143bn ($2.2bn) until 2021, with over 100,000 objects to be connected.