 |
|
Subscribe
our news
Mail
us for questions
Top
Internet Search Engine Bought by Upstart Holding
Ignoring recent global
losses in high-tech stocks, newly-born RuNet Holdings Ltd.
grabbed a third of the RuNet market by acquiring yandex.ru and
the Yandex trademark on Thursday.
Ru-Net hoping Ozon.ru becomes Russia’s Amazon
Ru-Net Holdings Ltd., the
newly founded, partly Western consortium, has made its first
move by acquiring a 51 percent stake in St. Petersburg online
bookseller Ozon for $1.8 million.
Apr 05, 2000
Russian Phone Firm Rostelecom Likely to Rise More on Internet Demand
OAO Rostelecom shares have more
than doubled in three months and are set to rise further on
optimism growing demand for Internet services will boost the
Russian long-distance phone service's profits, investors said.
Baring-UFG $20 mln fund targets Russian Internet
Baring
Vostok
Capital
Partners
and
Russia's
United
Financial
Group
have
opened
a
$20.5
million
Russian
Internet
direct
equity
fund
and
bought
a
$3
million
stake
in
an
on-line
book seller,
the
firms
said
on Friday.
Russian Golden Telecom sees
growth
Russian telecommunications
and Internet firm Golden Telecom will see steady revenues in
core telephony groups and rising sales in the integrated voice
and data arena, the company's president said.
Feb 25, 2000
Bradley Cook got new job
Bradley Cook, former Editor-in-Chief of The
St. Petersburg Times
in St. Petersburg, Russia, has joined the editorial team of NewsMax.com as
editor of NewsMaxUK.com.
Feb 24, 2000
Telia is breaking on
Russian market
By way of a share acquisition Telia has entered as
industrial partner in First National Holding/Telecominvest - one of the three
most important telecom and IT-groups in Russia. The transaction is valued at 700
million SEK.
Feb 23, 2000
Golden Telecom Introduces
Enhanced Internet Services
The new tariff plans provide
a complete package of Internet services for the dial-up access market. Monthly
pre-paid packages, including 20 or 50 hours online
Feb 22, 2000
No Windows 2000, No Cryptography
The Federal Agency of Government Communication and Information (FAPSI) is not
going to prevent the sales of Windows 2000 in Russia.
Feb 21, 2000
Comcor,
Andersen Group found joint venture
Moscow Telecommunications Corporation (Comcor)
and Andersen Group have announced that they have created a joined venture called
Comcor-TV.
|
Baring-UFG $20 mln fund targets Russian Internet
By
Peter
Henderson
MOSCOW,
March
17
(Reuters)
-
Baring
Vostok
Capital
Partners
and
Russia's
United
Financial
Group
have
opened
a
$20.5
million
Russian
Internet
direct
equity
fund
and
bought
a
$3
million
stake
in
an
on-line
book
seller,
the
firms
said
on
Friday.
Ru-Net
Holdings
Ltd
will
spend
the
financing
this
year,
focusing
on
e-commerce
firms,
service
providers
and
the
like,
Jean
Michel
Braun,
acting
chief
executive,
told
an
Internet
conference.
The
Russian
Internet
has
become
a
hot
item
in
the
press
and
for
investors.
Despite
the
rush,
some
of
the
major
types
of
on-line
firms
popular
in
the
West
have
not
been
replicated
or
spawned
market
leaders
in
Russia,
Braun
said.
``There
are
still
unacquired
parcels
of
real
estate,''
he
said.
``There
are
a
lot
of
good
infrastructure
projects,
but
in
six
to
nine
months
there
will
be
few
top
layer
projects
worth
investing
in.''
Ru-Net's
first
buy
is
Ozon.ru,
which
sells
Russian
books
and
music
over
the
Internet.
About
half
the
sales
are
to
foreigners.
Ru-Net
paid
$1.8
million
for
50
percent
plus
one
share
and
is
committed
to
pay
a
further
$1.2
million
by
the
end
of
the
year,
Braun
said.
He
did
not
say
what
stake
ru-Net
would
end
up
with
for
the
entire
$3
million.
Ozon
sales
should
climb
to
$2
million
this
year
from
about
$350,000
last
year,
said
Alexander
Yegorov,
chief
executive
of
Reksoft,
the
company
selling
the
stake
in
Ozon.
Investors
appear
to
be
raising
tens
of
millions
of
dollars
for
the
Russian
Internet,
but
few
deals
have
been
made.
There
is
a
huge
debate
about
how
to
value
Russian
firms,
whether
investors
can
expect
fast
returns
given
Russia's
technological
savvy
but
consumers'
financial
mistrust,
and
whether
investors
should
buy
on-line
firms
or
build
them.
Braun
said
ru-Net
was
backed
by
major
investors
would
consider
buying
leading
companies
as
well
as
founding
new
ones.
It
would
take
stakes
in
five
to
seven
major
projects
and
perhaps
a
number
of
smaller
ones
with
the
first
round
of
financing,
he
estimated.
Braun
said
ru-Net
valued
Ozon
by
heavily
discounting
for
sovereign
risk
and
low
consumer
buying
power
and
comparing
to
other
acquisitions
by
Baring
Vostok,
the
parent
of
Baring
Vostok
Capital
Partners.
Ozon
was
the
clear
leader
in
its
field,
he
said.
Most
of
the
$3
million
will
go
for
expansion
of
the
business
to
Moscow
from
its
base
in
St
Petersburg,
marketing
and
development
of
the
site.
