FILE PHOTO: The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/File PhotoA Russian consortium leading a buyout of Yandex, often dubbed Russia's Google, from its Dutch parent company Yandex NV said on Monday it has received bids from investors to exchange 43.9 million shares as part of the deal.
In May, the consortium announced terms for Yandex NV shareholders to either sell their shares or exchange them for shares in the Russian entity, MKPAO Yandex. The offer was open to owners of Yandex NV shares that were purchased on the Moscow or St Petersburg exchanges. A consortium representative said the figure of 43.9 million represented an estimated 99 per cent of eligible Yandex NV shares that were not held in so-called type C accounts.
Yandex is Russia's dominant tech company with an array of services including ride-hailing and food delivery as well as online search and advertising, where it has gained market share since Alphabet's Google stopped selling online ads in Russia after the start of the war.
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