In a continuation of the political and legal troubles that have plagued it over the past few months, last week Skolkovo, the state-sponsored innovation hub nearing completion on the outskirts of Moscow, lost one of its senior managers as well as its main protector in the Kremlin. At the end of April the Skolkovo Foundation …
In an exchange with East-West Digital News, a top official of Virgin Connect has denied the rumors circulating in the Russian press that Virgin is shutting down its mobile projects in Russia. Virgin’s founder and chairman Richard Branson was reported to be “definitely upset with Russia” and his local company had supposedly dropped plans to …
Skolkovo, the state-sponsored giant tech hub nearing completion on the outskirts of Moscow, has come under sharp criticism over the last several months, suggesting that government policies in support of innovation in the country could be reviewed. Among the first signs of resistance to Skolkovo’s recent development were remarks made this past October by Deputy …
Skolkovo under fire; government innovation policies may be reshaped Read More
The European Bank for Reconstruction and Development has just issued a 96-page report on the Russian economy. The report takes a detailed look at policies that can help achieve the country’s economic diversification. “Ending [the Russian economy’s] heavy reliance on exports of oil, gas and minerals, [is] a very specific and difficult challenge,” the report …
The European Bank of Reconstruction and Development announced yesterday its intention to invest up to $30.5 million in Trivon AG, an internet broadband provider operating in Russia under the Virgin Connect brand. The financing will allow the company to expand the coverage of Trivon’s internet broadband services in the Russian regions through the acquisition of …
EBRD to invest $30.5 million in Russian Internet broadband provider Read More
MTS, a leading mobile operator and telecom provider in Russia and the CIS, announced on Tuesday that its subsidiary MGTS has acquired a 100% stake in Tascom, a major provider of telecommunication services to corporate clients in Moscow and the Moscow region. Tascom previously belonged to Bester Investments Limited – which itself is owned by …
Russian Towers, a Russian company that owns, operates, and leases telecommunication towers, secured a $100 million investment last week from a consortium of investors led by the Macquarie-Renaissance Infrastructure Fund (MRIF), which committed itself to invest half of the total. Another $20 million is coming from emerging market investor ADM Capital, while founding shareholders UFG …
Russian telecom tower operator secures $100 million investment Read More
A new player on the Russian venture scene, iTech Capital has attracted capital from a variety of prominent Russian IT businessmen. Its first investments, in late 2011, went to play marketing site The Battle Of Brands and to Giftofoni, an innovative social gifting app launched on the Turkish-language segment of Facebook. In this exchange with East-West …
