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Weekly Lists
August 11, 2017 www.intellinews.com I Page 19
bne:TMT
Russian internet giant Yandex and Sberbank team up in $0.5bn joint venture
Slovenska Posta to buy into mobile operator Swan
Russia's internet services giant Yandex and largest state-owned bank Sberbank announced they are creating a joint e-commerce venture based on the Yandex.Market marketplace platform, the companies announced on August 9.
Sberbank is set to invest about $500mn into the joint venture that values Yandex.Market at RUB60bn ($1bn). The terms of the agree- ment are non-binding and still need to secure regulatory approval.
According to East-West Digital News (EWDN) the platform attracts more than 19mn desktop and laptop users each month, giving them access to over 20,000 domestic and international merchants and 150mn product offerings.
Slovenska Posta is set to buy into the country’s smallest mobile operator Swan, local media reported on August 9.
The fully state-owned Slovak postal company cooperated in the – somewhat messy – establishment of the country’s fourth mobile operator and the launch of its service, under the brand name
4ka. The team up allowed Swan to take advantage of the postal operator’s large retail and distribution network to offer its services.
Slovenska Posta will is set to pay €1mn for a 10% stake in Swan Mobile, broadsheet SME reported.
Russian conglomerate AFK Sistema saw its shares decline by 3% on August 8 on Moscow Exchange on the news that Russian courts have kept Sistema's assets frozen in the controversial legal case with oil major Rosneft. The shares are now down by about 88% since the legal challenge began against the company in 2014.
The Chelyabinsk Arbitrage court refused Sistema's appeal against the arrest of RUB170bn (€2.4bn) worth of assets arrested by a court in the Russian republic of Bashkortostan, Vedomosti daily reported on August 8. This makes it the second time that a Sistema appeal has been declined.
Shares of Russian holding Sistema sink as assets remain on lockdown