Finance

Potential Rostelecom privatization remains blurry, analysts speculate on merger with MegaFon or MTS

July 4, 2011 July 4, 2011

Rostelecom shares jumped 17% in June amid statements from senior Russian officials that the Russian national telecommunications operator might be at least partially privatized. The Russian Federal Government owns a controlling stake in Rostelecom, 53.23%, through the auspices of state owned telecom holding Svyazinvest and investment corporation Vnesheconombank. Rostelecom recently completed a large reorganization and …

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Yandex invests in social commerce app

July 1, 2011 July 1, 2011

Russian search system Yandex announced last week its intention to allocate funding for Social Market, a startup from Moscow developing a social commerce application, within the Yandex.Factory program.

Russian state owned fund participates in Shazam round of financing

June 30, 2011 June 30, 2011

Russian state owned fund of funds Russian Venture Company (RVC) has participated indirectly in a $32 million round of financing for London based Shazam Entertainment, the developer of a popular application for mobile devices.

VimpelCom considering new acquisition in Italy

June 29, 2011 June 29, 2011

VimpelCom, a mobile operator initially focused on Russia but which has grown into an important international telecom group, is considering a new acquisition in Italy, a source in the Italian government told Russian business daily Vedomosti. Through its merger last April with Italian mobile operator Wind Telecom, VimpelCom already controls 23% of the Italian market. …

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California’s Garage Technology Ventures to invest in Russian startups

June 29, 2011 June 29, 2011

Palo Alto based Garage Technology Ventures is partnering with Moscow based incubator Digital October to invest in Russian high tech startups with international potential. The news was reported yesterday by Russian business daily Vedomosti based on exchanges with Digital October General manager Dmitry Repin and Garage Technology Managing Director Bill Reichert.

Russian university invests $1 million in electronic gardening

June 29, 2011 November 12, 2020

Synergy Innovations, the venture arm of the Moscow University of Industry and Finance, will invest $1 million into the i-Ogorod web service – ‘i Garden’ in Russian – a project allowing its users to set up real vegetable gardens and manage them through the Internet.

PepsiCo extends angel investment program to Russian tech startups

June 27, 2011 June 27, 2011

Through its PepsiCo10 program, multinational beverage and snack maker PepsiCo will offer £10,000, approximately $16,000, along with consulting services from leading specialists in the company and its partners to ten digital technology startups in 2011. Launched in the US in 2010, the PepsiCo10 angel investment program has been extended this year to cover Europe and …

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Vkontakte preparing for IPO next year in New York?

June 25, 2011 June 25, 2011

Bloomberg reported yesterday that, according to “people with knowledge of the talks,” Vkontakte is “in early discussions with investment banks about a potential initial public offering in New York as early as next year.” Vkontakte.ru — ‘In contact’ in Russian — was designed as a Facebook clone when it was launched in 2006, but important …

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Svyaznoy’s IPO plans gain momentum

June 21, 2011 June 21, 2011

Newly registered in the Netherlands, Svyaznoy NV has emerged as the owner of a 99.99% stake in the Svyaznoy Group of Companies CJSC, reported Russian business daily Vedomosti. Svyaznoy NV only controls the retail business of Svyaznoy, currently Russia’s second leading mobile phone retailer after Euroset. Other Svyaznoy assets, including a bank and a retail …

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Russian mobile operators eye acquisitions in Ukraine and Belarus

June 20, 2011 June 20, 2011

Leading Russian mobile operators VimpelCom and MTS are eying to acquire Utel, the mobile unit of Ukrtelecom, a major fixed-line Ukrainian operator. Astelit, a subsidiary of the Turkish Turkcell, was also named as potential buyer.

Rambler to pour $1 million per year into Russian tech and media startups

June 20, 2011 June 20, 2011

Rambler, the once prominent but now second tier Russian search engine, has announced on company blog on Thursday the establishment of a new venture fund named Rambler-Fund. The fund has been set up in partnership with media firm Afisha.

VTB Capital develops IT portfolio with web conferencing startup

June 17, 2011 June 17, 2011

VTB Capital Asset Management announced last week it has invested in COMDI, a leading player on the Russian video conferencing market. Founded in 2009, COMDI specializes in web conferences as well as online training and broadcasts. Before this round of financing, COMDI was funded by its founders and an undisclosed business angel.

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