Page 115 - RusRPTJul20

the users in the leak are from Iran and the remaining 30% from Russia.
Russian internet major ​Yandex​ and country's largest lender Sberbank announced the final stage of its bitter divorce, ​breaking down the e-commerce Yandex.Market and e-payments Yandex.Dengi joint ventures, as reported on June 23 by ​Kommersant d​ aily citing the companies and confirming previous unofficial reports. As reported by ​bne IntelliNews,​ in 2019 Yandex struck a corporate governance deal with the Kremlin, calming concerns of a state takeover of the company, but at the price of a ​fallout in the relationship with another investor darling, Sberbank. Now Yandex will buy out the 45% stake in Yandex.Market (e-commerce marketplace Beru) joint venture for RUB42bn (RUB87bn valuation) and will sell its stake in Yandex.Money (for RUB2.4bn). Sberbank claims to pocket RUB20bn of profits from the deal. The CEO of Sberbank German Gref will remain on the board of Yandex until the next shareholders' meeting, but plans to leave the board. To remind, last year Sberbank gave up its golden share in Yandex and ​continued to pivot away from the digital major​, strengthening its co-operation with its rival Mail.ru in the foodtech and transportation segment. The bank also teamed up with Rambler Group on online content, investing in driverless solutions, etc. Most recently Sberbank accelerated acquisitions of Yandex direct competitors in other fields, such as ​mapping service 2GIS​ and O​ zon e-commerce major​.
After a protracted divorce, the battle between ​Sberbank and Yandex continues. The bank announced in the second week of June that it will buy a 72% stake in the maps service 2GIS, ​a competitor to Yandex.Maps. Mapping services themselves don’t bring in a lot of money, however Sberbank can use 2GIS to improve navigation for its food service, Delivery Club, which currently uses Google Maps and competes with Yandex.Food.
Sberbank​ has started negotiations to increase its share in the ​Rambler Group​. The catalyst for this move is the legal action taken by Rambler owner Alexander Mamut against the webserver Nginx. Last December, Nginx offices were raided after Rambler filed a police report claiming that it owns the rights to the server’s software. Rambler quickly rescinded its claims. However, Mamut is now trying his luck in American courts, suing the American firm F5 Networks, which bought Nginx for $670mn last year, for either $750mn in damages or for ownership over the server. According to Sberbank, Mamut’s claims against Nginx may violate the terms of the bank’s partnership with Rambler. As a result, Sberbank is seeking to decrease Mamut’s stake in Rambler from its current 46.5% (the same as Sberbank’s current stake) to 40%, thus granting Sberbank control of the tech and media holding group.
E-commerce player​ ​Ozon Holdings​ reported 115% year-on-year growth in revenues in 1Q20 to RUB31.6bn ​including VAT, with sales soaring 3-fold y/y in April alone to RUB14.9bn on anti-coronavirus (COVID-19) lockdown measures. In 2020 the company hopes to grow by over 100%. Ozon's main shareholder, the AFK Sistema multi-industry investment conglomerate, reported consolidated revenue growth of 6%​ y/y to RUB159bn, with adjusted Ebitda inching up by 1% to RUB54bn under IFRS in 1Q20. As reported by ​bne IntelliNews,​ ​Sistema could reportedly sell 30% in Ozon to Russia's largest bank, Sberbank​. Last year Sistema held an SPO of children's goods retailer Detsky Mir. Ozon's management commented that record-high results in 1Q20 could be even higher were it not for the lack of logistics and delivery capacities that remain the main obstacle for the development of the company and the sector at large.
115​ RUSSIA Country Report​ July 2020 ​ ​www.intellinews.com