In 2010 the performance of Mail.ru Group, an LSE-listed Russian internet group, was remarkable in many respects, according to the financial results it released yesterday. The group’s aggregate revenues grew to $324 million, a 64% increase from 2009 – or 58% excluding the impact of the ICQ acquisition completed in July 2010. Its net income …
Revenues for the leading Russian mobile service providers are expected to grow an average of 10% over the next 3-4 years, according to a JPMorgan report cited by Russian business daily Vedomosti. Operators spent the previous year recovering from the crisis, but from Q3 2009 the average growth rate for revenues increased from 1.5 to …
Revenue for Russian mobile operators to increase up to 10% yearly Read More
Norilsk Telecom (NT), one of the largest fixed-line and broadband operators in the Krasnoyarsk region, is up for sale again. The company’s only shareholder, investment bank KIT Finance, hopes to sell the asset before the year’s end. A few potential buyers have emerged.
Moscow, Russia – “COMSTAR – United TeleSystems” JSC (“Comstar”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 84 Russian cities, with a presence in Ukraine and Armenia, today announces that, following the announcement on 24 December 2010 that Comstar shareholders had approved the merger of Comstar into Mobile TeleSystems OJSC (“MTS”) pursuant to which …
Ukrainian fund United Media Holding (UMH), owner of a variety of media companies in Ukraine, Russia, Kazakhstan and Belarus, is in the process of acquiring a controlling stake in Sports.ru, reports RBC Daily, a Russian business daily, from unnamed sources.
Yesterday Moody’s placed the corporate family rating (CFR) and the probability of default rating (PDR) for Sitronics, a Russian provider of corporate telecommunications solutions, on review for possible downgrade.
European online music service Spotify, which offers streaming audio tracks on demand, is currently closing a round of financing of $100 million or more, reports TechCrunch from unnamed sources. DST is said to be leading the deal, which would value Spotify at around $1 billion.
Russian search engine Yandex may go public on NASDAQ in June or July 2011, trading shares amounting to $1 billion, reported Bloomberg and Russian business daily Vedomosti. According to unnamed sources, the IPO would be managed by Deutsche Bank and Morgan Stanley.
Softline Venture Partners, a fund owned by Softline, a leader on the Russian software licensing market, has invested an additional $500,000 in Emegamall to take a controlling stake in the company. The transaction was based on a valuation of $2 million, reports Oborot.ru, a specialized online resource.
SAP recognized SAP Russia as its most successful subsidiary in 2010, with the 5th highest contribution to the overall corporate revenue of all its divisions, reports Vedomosti, a Russian business daily.
The Federal Service of Financial Markets (FSFM) has registered $52 million follow-on shares placement report by Kazan-based innovation Technopark Idea, FSFM reports. The shares were reportedly placed privately.
Tele2 Russia, a subsidiary of a European telecommunications holding based in Sweden, announced yesterday its 2010 financial results. The Russian subsidiary generated 10.3 billion Swedish crowns ($1.6 billion) in revenue, and its EBITDA reached 3.6 bn crowns ($555 million). This is a significant increase from 2009, with revenue up by 35.5 percent and EBITDA up …
Fast-growing Tele2 Russia increases revenues and investments Read More
