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Weekly Lists
July 28, 2017 www.intellinews.com I Page 25
bne:TMT
Russian mobile operators risk EU fines under new data storage legislation
Russian mobile operators could be fined for breaching EU legislation should the controversial so-called Yarovaya data storage law be passed in the country, Vedomosti daily reported on July 23, citing a study by the Internet Research Institute.
Reportedly, data protection legislation to be passed by the EU in May 2018 will directly contradict Russian anti-terrorist data storage law amendments and implies fines for Russian operators totalling up to RUB45bn (€0.7bn).
While the controversial Russian law, authored by lawmaker Irina Yarovaya, stipulates across-the-board personal data and communication archive storage, the EU legislation would allow only targeted data storage "in national security interests" and sanctioned by special security services.
Meanwhile, the Yarovaya law so far makes no exceptions for foreign cli- ents, which potentially puts local operators at risk of breaching EU rules.
The Hungarian subsidiary of Bucharest listed Digi Communications Digi Tavkozlesi es Szolgaltato has signed an agreement to acquire Hungarian broadband and telephone provider Invitel Tavkozlesi Zrt for €140mn, Digi announced on July 21.
This is Digi’s first acquisition since its IPO on the Bucharest Stock Exchange in May. The planned transaction, once completed, will consolidate Digi’s position on the Hungarian telecommunications market, allowing it to expand its customer base.
The transaction is currently expected to complete by March 14, 2018.
Regional investment fund South Central Ventures' (SCV) is backing British-Macedonian company InPlayer with a £500,000 (€560,000) investment.
The investment in InPlayer is the largest single investment yet in a Macedonian company. SCV said in a statement on July 24 it is adding InPlayer, the next generation video and digital asset monetisation platform that works with the largest media and technology companies in the world, to its portfolio.
The investment will be used by InPlayer to further expand its team in Skopje as well as to position InPlayer as one of the leading video and digital asset monetisation platforms globally.
Hungarian branch of Bucharest listed Digi to buy Invitel Tavkozlesi in €140mn deal
South Central Ventures backs Skopje-based InPlayer