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VTB is ready to transfer 50% shares of the capital's bicycle rental operator CityBike to the Moscow city free of charge

December 14, 2020, 18:00 (UTC+3)|

According to Kommersant, VTB Group is ready to donate 50% of Citibike JSC, the capital's bicycle rental operator to the city of Moscow. At the beginning of 2020, Deputy Mayor of the capital Maxim Liksutov addressed the head of VTB, Andrey Kostin, with such a proposal. The Moscow Transport Department and VTB's press service confirmed that such a deal is being considered, but they did not disclose any details until final approval.

The department added that they would like to jointly develop a city bike rental project. VTB explained that the integration of Citibike with the city will allow the development of a rental service: the project requires investments for the construction of bike paths, the installation of bicycle traffic lights, and the purchase of electric bicycles and stations for them.In 2019, the Citibike had 5.44 thousand bicycles and 529 stations throughout Moscow. By the end of 2020, there should be 6.77 thousand bicycles and 630 stations. In 2019, almost half of Citibike's revenue came from advertising on bicycles and VTB stations.

Original (in Russian)



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