Russian net elephantine Yandex's Dutch holding institution connected Friday said it planned to divest ownership and power of astir of Yandex Group, with the planetary divisions of immoderate services to beryllium developed extracurricular Russia.
Yandex NV said it had started a "strategic process to reappraisal options to restructure the group's ownership and governance successful airy of the current geopolitical environment".
"As portion of the intended restructuring of the group, the committee anticipates that Yandex NV will successful owed people beryllium renamed, with the concern to beryllium divested, retaining exclusive rights for the usage of the Yandex brand," Yandex said successful a statement.
Russian President Vladimir Putin and erstwhile concern curate Alexei Kudrin addressed the aboriginal of Yandex successful a late-night meeting, sources told Reuters connected Friday.
Sources told Reuters that Mr Kudrin, a long-time workfellow of Mr Putin, is expected to permission his relation arsenic caput of Russia's Audit Chamber to instrumentality up a presumption with Yandex. One of the sources said that could hap successful the coming weeks.
Yandex NV said the strategical process was astatine a preliminary signifier and that immoderate changes would yet necessitate shareholder approval.
The institution has acceptable up a peculiar committee charged with exploring assorted scenarios, including processing the planetary divisions of Yandex's self-driving technologies cloud computing, information labelling, and EdTech independently from Russia.
The Dutch genitor said it would question to divest ownership and power of each Yandex Group's different businesses, which see the company's ascendant hunt and advertizing unit, arsenic good arsenic ride-hailing and e-commerce.
Updated: November 25, 2022, 2:47 PM
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