Qiwi's 2015 Return Evaporating as Russia Recession Saps Growth

Updated on
  • ADRs slide from this year's high as consumers reduce spending
  • Quarterly revenue buoyed by Otkritie payment systems purchase

Qiwi Plc, the electronic-payment processor that some analysts had seen as among the companies best able to withstand Russia’s economic crisis, is succumbing to the recession as shrinking wages curb consumer spending, squelching revenue growth.

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