Yandex N.V., which is now a Dutch holding firm, is seeking to dump its search engine and all of its different Russian property as a part of a deal estimated to be between $5 billion and $6 billion, Reuters reported.
Seemingly sale? A sale might come as early as December. Yandex N.V. may promote 100% of all its Russian property or maintain share choices.
- “Dutch holding firm Yandex NV’s deliberate restructuring is geared toward recouping some shareholder funds with the sale of its important revenue-generating Russian companies, comparable to its search and ride-hailing operations. It then plans to develop 4 different enterprise strains internationally,” Reuters reported.
Yandex additionally dominates internet advertising in Russia.
Why we care. Yandex has been in turmoil since Russia invaded Ukraine in February 2022, although it nonetheless has a commanding 65.95% search market share in Russia (just one.83 globally), in October, per StatCounter, whereas Yandex introduced it had 62.6% market share in its Q3 2023 earnings report. It stays an space worldwide search entrepreneurs will need to watch.
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