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ETLN - Etalon News Story

$1.61 -0.1  -5.3%

Last Trade - 28/10/20

Consumer Cyclicals
Mid Cap
Market Cap £384.4m
Enterprise Value £617.3m
Revenue £839.1m
Position in Universe 590th / 1802

BREAKINGVIEWS-Russian conglomerate finds discount hard to shake

Thu 3rd September, 2020 10:41am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Dasha Afanasieva LONDON, Sept 3 (Reuters Breakingviews) - Sistema wants to put a value on resilient companies such as online retailer Ozon and wood pulp maker Segezha. That’s logical: the $2.7 bln group trades at a hefty discount to its investments. But its oligarch owner, poor governance and sanctions noise are lasting burdens. Full view will be published shortly. On Twitter CONTEXT NEWS - Russian conglomerate Sistema on Sept. 2 said it was raising 16.9 billion roubles ($220 million) from the sale of its remaining 20% of shares in Russia’s biggest toy retailer Detsky Mir. - Global retail giant and Japanese SoftBank Group have made approaches to Russian conglomerate Sistema about a possible acquisition of its online retailer Ozon, Sistema’s majority owner Vladimir Yevtushenkov said on June 27. - Sistema has been planning initial public offerings for some of its assets, including Ozon, wood and pulp maker Segezha and agriculture business Steppe. - A report by a group of U.S. Republican legislators in June called for Yevtushenkov to be sanctioned as part of proposals to extend sanctions against “Russian propaganda chiefs and Russian proxies in other countries acting on (President Vladimir) Putin’s behalf”. - A spokesman for Sistema and Yevtushenkov declined to comment on the report. - For previous columns by the author, Reuters customers can click on AFANA/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Sistema, Russia-China fund raise $281 mln from sale of toy retailer*:nL8N2FZ0XI Sistema statement Amazon, SoftBank held talks over Russian online retailer Ozon, shareholder says*:nL8N2E4075 U.S. Republican report BREAKINGVIEWS-Battle for Russia’s Amazon crown is heating up*:nL8N2DI1UP ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Peter Thal Larsen and Karen Kwok) ((; Reuters Messaging:
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