Page 87 - RusRPTJune18

largest pollock fishing and second largest herring fishing quotas in the country, and last year said it would be expanding into the crab business too .
9.2.7 TMT corporate news
Russian internet giant Mail.Ru Group and Turkish telecom major Turkcell are going to cooperate in on-line services , namely in social media and e-mail clients, according to the companies. "We are excited to announce the beginning of talks with Russia’s communications and entertainment services giant," the CEO of Turkcell Kaan Terzioglu is cited as saying, adding that, "This strategic partnership will ensure that we will become one of the first and leading players in this area, allowing us to export our services globally and create a new field of competition.” "Our e-mail solutions can enhance Turkcell’s eco-system of digital services. We also think that our social networks have high potential in Turkey, and with the help of such a strong local partner, may evolve into a major social media platform for the Turkish market," the CEO of Mail.ru Boris Dobrodeev commented. New York and Istanbul listed Turkcell is the world’s first digital operator. Together with the company its subsidiary Lifecell Ventures will evaluate partnership opportunities with Mail.ru, the press-release reads. Turkcell’s net income rose by 31% y/y to TRY1.98bn (€401mn) in 2017 while revenues rose by 21% y/y to TRY17bn. Mail.ru is one the biggest internet companies in Russia, controlling three social networks VKontake, Odnoklassniki, Moy Mir, an internet portal, email client, and a wide array of other services from gaming, cybersports, messaging, food delivery, and other. The company posted 28% year-on-year growth in revenues in the first quarter to RUB16.5bn ($262mn), but saw Ebitda decline by 20% to RUB3.99bn missing consensus expectations by 21% and pushing net profit down 32% y/y to RUB2.4bn. Previously Mail.ru margins were already under pressure due to growing investments across multiple segments, from gaming and e-sports, location-based and cross-border market places Youla and Pandao, to food delivery with Delivery Club, money transfers, and taxi market. In January-March Ebitda also declined due to high investments into new project development, and increased personnel costs that gained 47% y/y, Aton Equity commented on May 4.
Russia's largest bank Sberbank and internet services major Yandex launched a beta version of online shop Beru (I Take) on the platform of their Yandex.Market e-commerce joint venture. Sberbank and Yandex finished setting up the $1bn Yandex.Market joint venture, which makes the largest investment in Russia online economy . "We want to create Russian Amazon on the basis of Yandex.Market, and I very much hope we will succeed," the CEO of the bank Herman Gref is quoted as saying by Vedomosti daily on April 27. As of the autumn of 2018 Beru will be available to all users, with the product assortment planned to reach over 1mn units in the next few years. Currently Yandex.Market attracts more than 19mn desktop and laptop users each month, giving them access to over 20,000 domestic and international merchants and 150mn product offerings. The main development directions of Yandex.Market will be an online platform securing operational, financial, and logistical services for
87 RUSSIA Country Report June 2018 www.intellinews.com