Yandex has not yet decided on the potential composition of new investors

MOSCOW, May 25 (Reuters) – Internet giant Yandex has received offers to buy various economic stakes in the company, but a final decision on the composition of potential economic investors has not yet been made, the company said.

All applications have been reviewed by the Board of Directors and will also be reviewed for compliance with sanction restrictions.

“The new economic investors will not have control over the company. As with the current corporate structure, Yandex management will remain in control,” the company said.

Yandex promised to reveal all the details, including the list of economic investors, “when possible”.

“The companies of autonomous cars, cloud technologies, educational services and data tagging platform will continue to operate in the Russian market. Their international parts will be spun off into independent companies managed by Yandex NV.

Reuters sources said that several Russian businessmen, including Vladimir Potanin, Vagit Alekperov and Alexei Mordashov, made offers to buy shares in Yandex.

Interest in buying a stake in Yandex within the consortium was expressed by the Russian state-owned bank VTB. (Moscow office)


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