Qiwi Group, which owns the payment service of the same name, has announced the separation of its business into Russian and international branches. The group's CEO, Andrey Protopopov, believes that the separation of the business is a logical step given the current economic and geopolitical situation.
"The international business will be part of the Qiwi Plc group, whose securities are listed on Nasdaq and the Moscow Exchange. The Russian business will be consolidated into JSC "Kivi"", the company said. They added that Russian and international divisions will be formed in June, and the complete separation of the business will take place before the end of August, provided that all necessary regulatory approvals are obtained.
The company also notes that the restructuring will not affect the availability of Qiwi services.
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