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July 2020 www.intellinews.com I Page 19
Telekom Slovenije started the process of selling its 100% stake in IPKO in July 2019 in line with its divestment strategy.
Russia's Rostelecom recommends 6%
dividend yield
Russian state-controlled integrated telecom company Rostelecom recommended paying RUB5 per share in its 2019 dividend. BCS Global Markets estimated the total payout for last year at RUB17.5bn, making 77% of adjusted free cash flow (excluding Tele2 mobile subsidiary), in line with the company's dividend policy.
The dividend yield is at 6% for both preferred and common shares, and given that the dividend is
in line with expectations, BCS GM sees the news as neutral and maintains a neutral stance on the name with Hold recommendation.
Previously when reviewing the equities of
the Russian telecom sector, BCS GM already estimated that Rostelecom trades with a 6% yield – "not bad versus 4-6% deposit rates in Russia, but not appealing either."
As reported by bne IntelliNews, in 2019 Rostelecom consolidated control in the "big
four" mobile operator Tele2. The state company also it remained the major recipient of B2B, B2G telecom and infrastructure contracts. Rostelecom is also in focus regarding the planned rollout of 5G in Russia.
The company reported a 10.3% year-on-year rise in revenues to RUB121.6bn ($1.7bn) under IFRS in 1Q20, still getting gains from the consolidation of the Tele2 mobile operator.
Microsoft sets up new development centre in Romania
US technology group Microsoft announced it has taken over Movial, a Romanian software engineering and design services company specialising in mobile and embedded devices.
Thus, the Movial office in Iasi will become the fourth technology development centre in the region for Microsoft.
“Microsoft announced the completion of a transaction with Movial ... to expand employment offers to people in Movial offices in Romania, Taiwan and the United States,” reads the press release sent by the company.
As a result of the transaction, 60 Movial employees from the company's office in Iasi joined the Microsoft Devices organisation to continue its investment in Android platform development efforts.
"We are excited to continue to expand Microsoft's presence in Romania and would like to welcome these new employees of Microsoft Romania," said Violeta Luca, CEO of Microsoft Romania.
This expansion is based on the sustained effort of Microsoft in Romania in the last two decades and comes to recognise the talent and expertise of Romanian specialists in the field of technology, the company said in its press release.
Russian e-commerce major Wildberries posts record sales in lockdown
Russian e-commerce major Wildberries more than doubled its turnover in 2Q20 during the coronavirus (COVID-19) lockdown, with 123% growth to record-high RUB103.4bn ($1.4bn), the company said.
As reported by bne IntelliNews, Wildberries is
the largest e-commerce company in Russia in terms of sales, and has recently started to expand its logistics capacities, in line with the general market trend.
The number of items ordered on Wildberries in 2Q20 jumped 200% year on year. In 1H20 overall the turnover was up 110% at RUB178.7bn.
Wildberries now has over 30mn registered shoppers, with the inflow of new users in the e-commerce segment tripling in April-June.