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Weekly Lists
March 30, 2018 www.intellinews.com I Page 23
bne:TMT
Russia's AFK Sistema places $1.5bn bid
for Indian telecom assets as it resumes investment activity
Uber to suspend activities in Slovakia after court ruling
Russian private investment conglomerate AFK Sistema put in
a $1.5bn bid to acquire the remaining assets of Indian Reliance Communications (RCom), Vedomosti daily said on March 26 citing Indian The Economic Times, as it resumes investing after
a corporate war with state owned oil company Rosneft ended.
A separate report showed that Sistema is also planning to acquire 51% in a textile business in the Vologda region, while a sale in the children's goods retailer Detsky Mir is also on the agenda.
The revival of investment activity from Sistema comes after
a damaging legal battle with state oil company Rosneft and its subsidiary Bashneft, that was previously nationalised and re-sold to state-owned oil major Rosneft by the state.
Uber says it will suspend its services in Slovakia after the deadline for the ride sharing service to stop its operations in the country – as ruled by the Bratislava District Court in February – expired.
Uber has experienced extremes in reaction to its controversial ride- hailing service in Central and Eastern Europe. The company has been banned in Hungary, but Estonia hopes to be the first country in the world to make it fully legal. In other countries including Czechia and Croatia, Uber has been faced with protests by taxi drivers.
The reason for the ban in Slovakia is that Uber failed to meet the conditions set for taxis and their drivers under Slovak legislation. The court’s verdict was issued in mid-February.
Turkey’s largest mobile operator Turkcell is to hold roadshow meetings in the US and the UK between April 3-4 for an issue of up to $750mn worth of Eurobonds, the company said on March 28 in a bourse filing.
In February, Turkcell applied to the Turkish Capital Markets Board (SPK) to issue the Eurobonds in question. It received approval on March 22.
Turkcell’s net income rose by 31% y/y to TRY1.98bn (€401mn) in 2017 while revenues rose by 21% y/y to TRY17bn.
Earlier this week, Turkcell’s consumer finance unit Turkcell Finansman signed a €100mn loan agreement with Bank of China.
Turkcell to hold roadshow for issue of up to $750mn of Eurobonds