|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||23.40 - 23.40|
|52-week range||18.50 - 25.95|
|Beta (5Y monthly)||0.90|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Sberbank and internet company Mail.Ru have discussed the possibility of holding an initial public offering for their joint food and taxi platform, the Russian state lender said on Tuesday. Sberbank will not own a controlling stake in the joint venture, Sberbank said. It added that Mail.Ru's board of directors will have a Sberbank representative on it.
Russian internet company Mail.Ru and state lender Sberbank have finalised the terms of a joint food and taxi platform and plan to invest 64.6 billion roubles ($1 billion) in the business, Mail.Ru said on Tuesday. The deal, first revealed in July, should be closed by the end of the year and will hand the firms equal stakes in the joint venture, it said. The move marks a significant step in Sberbank's pursuit of a stronger presence in Russia's digital economy and offers competition to the country's leading technology company, Yandex , which dominates the ride-hailing market.
The rouble gained on Tuesday, with local taxes propping up demand for roubles and protecting the Russian currency from discouraging news regarding U.S-China trade talks. CNBC had reported Beijing was pessimistic about sealing a trade agreement with the United States because of President Donald Trump's reluctance to roll back tariffs. The rouble usually sees support in the second half of every month as exporters buy Russia's currency to meet local duties.
Russian internet company Mail.ru and state lender Sberbank have agreed to set up a joint food and taxi platform and plan to invest 64.6 billion roubles ($1 billion) in the business, Mail.Ru said on Tuesday. The deal should be finalised by the end of the year and will hand the firms equal stakes in the joint venture, it said. Mail.Ru will contribute its stakes in the Delivery Club food delivery service and Citymobil taxi to the venture.
Alibaba Group's logistics operator and Russia's Pochta postal service have launched their first direct China-Russia cargo flights to deliver AliExpress goods purchased online by Russians, AliExpress Russia said on Thursday. The move, which AliExpress Russia hopes will help it cut the time it takes to deliver orders from China to Russia to 10 days, comes with Russia's rapidly growing e-commerce market producing an annual turnover of more than $14 billion. Alibaba's Cainiao logistics operator is renting 7 cargo planes from Pochta Russia and Aviastar-Tu to fly to the cities of Moscow, Yekaterinburg and Krasnoyarsk on a daily basis.
Sberbank has agreed to buy Gazprombank's holding stake in internet company Mail.ru as Russia's largest lender continues its transformation under Chief Executive German Gref into a banking-to-online services company. Under the deal Sberbank will buy a 35% stake in MF Technologies, which owns 58.9% of Mail.ru's voting rights, from Gazprombank, a state-owned financial group.
Russia's largest lender Sberbank said on Tuesday it had signed a non-binding agreement with lender Gazprombank to buy a minority stake in joint venture MF Technologies. MF Technologies was set up by Megafon, Gazprombank, Rostec and USM holdings in 2018 and holds a stake in Mail.Ru Group. Sberbank said it plans to sign a binding agreement with Gazprombank this year.
The Russian government has supported a draft law on limiting foreign ownership in major IT companies to just under 50 percent, according to a parliamentary website, a move which may further tighten state control over the internet.
Russian internet company Mail.Ru said on Wednesday it had agreed a joint venture with Alipay, the mobile payments arm of Alibaba Group, along with the Russian Direct Investment Fund (RDIF) and two other Russian partners. The RDIF, Russian mobile group Megafon and Mail.Ru have also agreed to set up another joint venture with Alibaba called AliExpress Russia, RDIF's Kirill Dmitriev told Reuters separately.