Page 142 - RusRPTNov23

second stage, the test driver takes a passenger seat with a device of emergency braking. Yandex has been testing self-driving cars in Innopolis since 2018.
9.2.8 Telecoms corporate news
Veon completed the exit from its anchor asset Russian mobile major VimpelCom through a management buyout (MBO) in a cashless deal, Kommersant daily reported citing the company’s announcement. Veon is 47.9% owned by LetterOne, an investment vehicle of Alfa Group shareholders Mikhail Fridman, German Khan and Alexei Kuzmichev, all under sanctions. LetterOne owns 47.9% of Veon shares, the holding's free float on NASDAQ is 43.8%, and another 8.3% is managed by a Dutch trust. To remind, at the end of 2022 the Netherlands-based Russian mobile and TMT major VEON had agreed on a RUB130bn ($2.15bn) management buyout (MBO) of its Russian division VimpelCom that operates under the Beeline brand in Russia. But the deal got bogged down as the government and the central bank reportedly opposed the deal’s treatment of outstanding holding’s debt to Russian bondholders, as well as shifting the leverage on the Russian division after the split. Confirming previous reports, the company's top management, headed by CEO Alexander Torbakhov, received 100%. To settle the debt issue, Vimpelcom will exchange Veon's Eurobonds held in a sanctioned National Settlement Depository, for its own replacement bonds with a longer maturity. The deal does not include a buy-back option for Veon.
9.2.9 Tourism corporate news
9.2.10 Utilities & Renewables corporate news
Unipro released 9M23 operating results. The volume of generation increased by 4.1% to 41.4bn kWh, which was the maximum among similar periods in the past several years. The increase in output, according to the company, is due to an increase in electricity consumption, and the increase in generation at Surgutskaya GRES-2 (+9% y/y) had the greatest impact on the total production volume. Thermal energy production in 9M23 decreased by 1% y/y to 1.233mn Gcal due to weather conditions.
9.2.11 Mines and Minerals - gold & diamonds
The EU and G7 states are close to introduction of a system to slap
sanctions on Russian diamonds, Belgian Prime Minister Alexander de Croo
142 RUSSIA Country Report November 2023 www.intellinews.com