Day: June 27, 2020

Germany’s beleaguered Wirecard to proceed with business after insolvency

BERLIN (Reuters) – Wirecard, the German scandal-hit payments company, said on Saturday it would proceed with business activities after filing for insolvency and expects a provisional administrator to be appointed by judicial authorities shortly.

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

“The management board is of the opinion that continuation is in the best interests of the creditors,” it said in a statement. “Whether insolvency proceedings will be opened is still under review.”

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a hole in its books that its auditor EY said was the result of a sophisticated global fraud.

The insolvency filing did not include the company’s Wirecard Bank unit, which holds an estimated 1.4 billion euros ($1.57 billion) in deposits

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Amazon, SoftBank held talks over Russian online retailer Ozon, shareholder says

FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 . REUTERS/Pascal Rossignol/File Photo

MOSCOW (Reuters) – Global retail giant Amazon (AMZN.O) and Japanese SoftBank (9984.T) have made approaches to Russian conglomerate Sistema (AFKS.MM) about a possible acquisition of its online retailer Ozon, Sistema’s majority owner Vladimir Evtushenkov said on Saturday.

It’s not immediately clear if talks are still under way or have ended. Sistema has said it was looking for partners to invest in Ozon, in which it holds a more than 40%.

“The interest to Ozon among foreign investors is very high,” Evtushenkov told reporters after Sistema’s annual general meeting.

“I can tell you that this is the only one company in Russia at which Amazon was looking from the participation point of view,” he said, adding that SoftBank was also interested

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Didi installs V2X equipment in Shanghai, begins test robotaxi service

BEIJING (Reuters) – Chinese ride-hailing giant Didi Chuxing, backed by SoftBank Group, launched a test robotaxi service in a Shanghai suburb on Saturday after installing V2X (Vehicle to Everything) hardware throughout the area.

FILE PHOTO: The company logo of the Didi ride-hailing app on a car door at the IEEV New Energy Vehicles Exhibition in Beijing, China, October 18, 2018. REUTERS/Thomas Peter/File Photo

Under the test, customers within a designated area will be able to hire free on-demand rides using Didi’s autonomous vehicles, which currently also have safety drivers, the company said.

V2X enables autonomous vehicles (AVs) to communicate with their surroundings and Didi has installed equipment at major junctions within the test area to minimize safety blind spots and coordinate communication among its fleet, it said.

The equipment will mainly be used by Didi’s own cars, although cars operated by other autonomous driving companies could also link up to

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Poland’s Play could sell some of its network infrastructure: source

WARSAW (Reuters) – Polish mobile operator Play Communications is considering selling some of its network infrastructure, a source familiar with the process told Reuters.

The company could follow similar moves by other European companies looking to sell mobile networks as infrastructure remains attractive to investors.

Bloomberg reported on Friday, quoting unnamed sources, that Play is working on a strategic review of roughly 8,000 sites, around half of which are towers, which could lead to a sale valued at up to 800 million euros ($897.4 million).

Play could start a formal process in early 2021, Bloomberg said.

Earlier this year, Play said it was planning to set up a company called TowerCo – a dedicated subsidiary to host existing and future passive network infrastructure.

“Play is at a very early stage of establishing the company, to which sites would be moved… It will take at least until the end of the

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