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could be considerably expanded with the intervention of Yandex.Chef service.
Main shareholder of Russian electronic payment system Qiwi Sergey Solonin told Interfax on October 11 that a sale of the minor stake in the company was possible. Previous unconfirmed reports suggested that Sergey Solonin (19% economic, 65% voting stake) and Boris Kim (2% economic, 7% voting stake) have been looking for a buyer for their stakes . If unsuccessful, they may consider selling select assets belonging to the company. "We have some scenarios, under which, a small stake could go to the market," Solonin is quoted as saying by Interfax. Other reports claimed that Rocketbank or Sovest loyalty programme could be sold. "The potential sale of Sovest (as well as Rocketbank) would be rather positive, while the sale of stakes by key holders (without a minority buyout) would imply uncertainty," BCS Global Markets commented on September 24, seeing the news as mixed and lacking clarity at this point. On the fast-growing Russian electronic payment market in 2Q19 and 1Q19 Qiwi reported solid sets of financials , upgraded its outlook, and had its investment case re-rated by BCS Global Markets .
9.2.8 Telecoms corporate news
9.2.10 Utilities corporate news
Russian mobile major M obile TeleSystems (MTS) will not delist its American Depository Receipts (ADRs) from the NYSE , the controlling shareholder and chairman of AFK Sistema multi-industry investment conglomerate Vladimir Yevtushenko told the press on October 9. MTS is the anchor asset of Sistema and since February investors have been anticipating news on changes to the structure of the company's freefloat, including possibly delisting from NYSE and making the Moscow Exchange the main trading platform for MTS stock.
Rusal withdraws its claims on Unipro on Monday 30 September, requesting that the court cancel its decisions on the matter and end all the ongoing hearings and appeals. Unipro’s Board assessed the matter on 27 September, while Interfax has previously reported that Deputy Prime Minister Dmitry Kozak has requested that the agreement between the parties be finalised by 1 November. While the full details of the settlement agreement have not been disclosed by either party, according to the releases they have agreed that relaunching the DPM unit is important for the energy security of Siberia and have agreed on cooperation. To recap, Rusal presented four claims to Unipro on the back of Unipro receiving partial payments for unit 3 at Berezovskaya GRES from February to May after the accident; the first was ruled in favor of Unipro and two others in favour of Rusal, while the fourth was postponed, with appeals having been made. Rusal was requesting a total of RUB 385.8mn and the termination of DPM for the unit.
Russian state-controlled utility holding InterRAO posted 4.3% year-on-year decline in total electricity output for 3Q19. In Russia, the electricity output was down 3.3% y/y on the back of expected recovery in hydro power plant production in 3Q19 (4.6% y/y vs -20% y in 1Q19 and 2Q19). Total exports decreased by 10.6% y/y, while electricity supply in Russia increased
128 RUSSIA Country Report November 2019 www.intellinews.o