President Vladimir Putin’s billionaire ally Yury Kovalchuk is buying half of Tele2 Russia Holding AB with partners, seeking to make the wireless carrier a stronger competitor to the country’s three dominant operators.
Yandex NV will extend gains from a 20-month high as Russia’s biggest Internet company boosts its dominance of the search market, according to Sberbank Investment Research’s Anna Lepetukhina, the most accurate analyst covering the stock.
Yandex NV, Russia’s biggest Internet company, advanced to a record in New York, widening its premium over China’s Baidu Inc. on prospects the purchase of a movie- rating site will cement its lead in the search market.
OAO Mobile TeleSystems, Russia’s largest wireless operator, is studying an acquisition of pay-TV and Internet provider Akado to expand in the broadband business in the Moscow region, a person familiar with the matter said.
Yandex NV’s better-than-estimated earnings will help the Russian search-engine operator extend gains after a rally sent the stock to the highest valuation in nine months versus Google Inc., according to OAO Sberbank.
OAO Rostelecom, Russia’s state-run telecommunications company, is offering St. Petersburg mobile- phone users the lowest rates as it enters the market for the first time in the country’s second-biggest city.
Tele2 Russia, the country’s fourth- largest wireless operator, named former OAO Rostelecom head Alexander Provotorov as chief executive officer, less than two months after VTB Group acquired the company for $3.6 billion.