Page 25 - bne_newspaper_October_19_2018

Weekly Lists
October 19, 2018 www.intellinews.com I Page 25
bne:TMT
Russia's Yandex.Taxi to benefit from high Uber IPO valuation
Uber Technologies could hold an IPO in 2019. The company has been valued at $120bn by Goldman Sachs and Morgan Stanley, which is the double of current valuation and exceeds the value of General Motors, Ford Motor and Fiat Chrysler Automobiles combined, according to the Wall Street Journal citing unnamed sources.
In one of the biggest deals in the Russian tech sector in 2017, Uber and Yandex.Taxi of internet services major Yandex formed a joined venture in Russia and five other countries (Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan).
The Uber Technologies’ IPO and record-high valuation is a "positive signal for Yandex.Taxi", BCS Global Markets commented on Octo- ber 17, noting that the price of Uber's IPO could serve as a future benchmark for Yandex.Taxi valuation.
Bulgaria’s public broadcaster BNT said on October 15 that it will skip next year’s edition of the Eurovision Song Contest, to be held in mid-May in Tel Aviv.
The decision is part of BNT’s measures aiming at saving costs.
In the past two years, BNT was in charge of organising the Bulgar- ian participation in the contest with the support of its partners, production companies or professional teams who also shared the financing.
Despite that, the cost of preparing the Bulgarian contestant, creat- ing and producing a song, a stage performance, producing a video and inclusion in the programme of the contest significantly out- weighed the reasonable expenditure that a public broadcaster could afford, BNT said in the statement.
T-Mobile has received a fine of CZK500,000 (€19,300) from the Czech Telecommunication Office (CTO) for its aggressive business practices, the CTO said in its monitoring report on October 17. The mobile operator collected invalid contractual penalties through the collection agencies, the statement said.
T-Mobile now has to pay the fine. However, it disagrees with the final decision and will take legal action against it through the ad- ministrative court.
According to the decision, T-Mobile’s penalties for the payments due were based on an invalid form of agreement.
Bulgaria to skip 2019 Eurovision as state broadcaster cuts costs
T-Mobile fined for aggressive business practices on the Czech market