YNDX Stock Recent News

Yandex NV (NASDAQ:YNDX), often dubbed "Russia's Google," announced the sale of its operations in the European country for around US$5.2 billion cash-and-share transaction. The tech giant, which is listed on the Nasdaq and headquartered in the Netherlands, is selling to Russian investors but is expected to spin off some of its international operations first.

A $5.2 billion cash and share deal to sell the key Russian assets of technology group Yandex , often labelled as "Russia's Google", to a consortium of Russian investors was announced on Monday after months of negotiations.

Nasdaq-listed technology company Yandex NV on Monday said it had agreed a 475-billion-rouble ($5.21 billion) cash and shares deal to sell its Russian assets to a consortium of Russian investors, including a fund ultimately owned by oil major Lukoil.

MOSCOW, Dec 25 (Reuters) - The completion of Nasdaq-listed Russian tech company Yandex's (YNDX.O) restructuring is expected to be postponed until early 2024, three sources familiar with the negotiations told Reuters on Monday.

The Kremlin's fear of a serious tech brain drain is the main factor preventing Moscow from nationalising Nasdaq-listed Yandex , often dubbed "Russia's Google", four people with knowledge of the company's divestment plans told Reuters.

A Moscow court fined Nasdaq-listed Yandex 2 million roubles ($24,242) for repeatedly refusing to provide the Federal Security Service, or FSB, with information about its users, Russia's state TASS news agency reported early on Monday.

Andrei Kostin, CEO of state-owned Russian lender VTB , on Friday said that Moscow should take the Russian assets of internet company Yandex under management, as it did with two European-owned assets in April.

Russian state-owned lender VTB may pull out of the running to acquire a stake in internet giant Yandex , the bank's CEO, Andrei Kostin, told Reuters, as discussions are now centered around higher prices than the bank's initial offer.

The Nasdaq stock exchange has informed Russian internet giant Yandex that its stock will be delisted, Yandex said on Wednesday, over a year after trading in its securities was first suspended.

Russian internet giant Yandex on Wednesday reported 2022 revenue up 46% to 521.7 billion roubles ($7.05 billion), increasing its dominance in online advertising as major competitor Google pulled out of the market.