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Prosus to cut ties with Russian Avito classifieds business

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Prosus said on Friday will cut ties with its Russian online marketplace Avito, and will not seek to benefit economically from its ownership of the business.

technology investor Prosus said on Friday it would cut ties with its Russian online marketplace Avito, and would not seek to benefit economically from its ownership of the business.

Prosus said in a statement it will “cease all involvement in its Russian operations”, with Avito continuing to operate as an independent entity run by its own board and a local management team.

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