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NIBs
May 2020 www.intellinews.com I Page 22
Overall, the BCS GM sees the results as in line with the expectations, as well as on the forecast for significant hit to Mail.ru financials in 2Q20 due to anti-virus measures and reduced economic activity.
BCS GM reiterated the Buy call on Mail.ru
shares with a target price of $20, and suggests focusing on the impact of COVID-19, risks to 2020 guidance, trends in social networks and games segments, and any data points on its e-commerce joint venture with Alibaba, and its taxi/foodtech joint venture with Sberbank.
Russian Yandex.Lavka grocery delivery teams up with Burger King
Burger King fast food restaurant chain has started brewing coffee and cooking deserts at the dark store facilities of Yandex.Lavka grocery delivery operator of Russian internet major Yandex,
Vedomosti daily reported on April 21 citing the representatives of the service. Burger King added about 20 items to the menu, such as coffee, milkshakes, ice cream, doughnuts and others.
As reported by bne IntelliNews, foodtech and delivery services will get a boost during the coronavirus (COVID-19) lockdown across Russia, with possible support from the state and partnerships emerging between tech, catering, retail and other segments.
Burger King previously said that, facing the temporary closure of its branches, it would redeploy its staff and equipment to Magnit and Lenta food retail stores, as well as Delivery Club delivery service of Yandex rival, Mail.ru Group.
Yandex.Lavka operates 113 dark stores in Moscow, St Petersburg and several townships in the Moscow Region.