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bne November 2019 Companies & Markets I 23
is seen declining from 8.6% in 2018 to 3.7%-4% next year, stabilising in the longer term at about 2%.
The study also estimates that the value of illegal taxi drivers stands at about RUB100bn, up by 6.3% as compared to 2018. In some regions up to 50% of all paid rides are delivered by unlicensed drivers. Obtaining a licence to drive a taxi is not mandatory, but the police are increasingly fining drivers without licences.
In 2019 taxi aggregators are seen taking about 60% of the taxi market, with Yandex.Taxi being the market leader with 27%
share. Vezet, recently acquired by Yandex, takes another 12%. Maksim taxi accounts for 9%, Gett for 5% and 1% for Citimobil.
Representatives of Yandex.Taxi argued to RBC that the market will maintain faster growth than that estimated in the survey due to even deeper market penetration and legalisation of unlicensed drivers.
Sberbank previously estimated that the value of the entire urban transportation market (taxi, carsharing, carpooling, etc) could reach RUB2 trillion by 2025, growing by an average of 15% from RUB748bn seen in 2018.
Extreme Digital, eMAG merger cleared
bne IntelliNews
Hungary's competition watchdog cleared the merger of Hungarian online electronics retailer Extreme Digital with eMAG, a unit of South Africa's Naspers group on October 17, creating one of the largest online retail networks in Central and Eastern Europe.
GVH said the merger would not reduce competition on the market for the sale of electronic goods by a significant degree, adding that the merged companies' market share would still be under 20%.
Extreme Digital and eMAG announced in March plans
to merge into an entity in which eMAG holds a 52% stake
and Extreme Digital a 48% stake. The companies' combined revenue is expected to reach around HUF70bn (€210mn) a year.
The merger will pave the way for eMAG to enter into five new regional markets where Extreme Digital is already present: Austria, Croatia, the Czech Republic, Slovakia, and Slovenia. Besides Hungary eMAG currently operates in Romania, Bulgaria, and Poland.
Online sales in Hungary are growing at a pace three-fold that of retail sales, around 17-18% and accounted for 4.5% of total retail sales turnover last year. According to eNet Internet Researcher, online retail sales in Hungary reached HUF1tn last year.
Hungarian webshops made up only half of the amount, as price-conscious customers are turning to foreign retailers such as Amazon or Chinese Alibaba.
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