Yandex did not submit applications for the sale of Russian assets – Kommersant
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The head of the Ministry of Digital Development, Maksut Shadayev, said that the parent company of Yandex, Yandex NV, did not submit a package of documents for the sale of Russian assets. The government commission on foreign investment received only a request for intra-group restructuring.
“The materials were not contributed to the purchase of Russian assets from Yandex NV, there were no materials. There was a request for intra-group restructuring, but there was no package for the sale of Russian assets by foreign investors to someone,” said Mr. Shadayev (quoted from “Interfax“).
On November 25, 2022, Yandex NV announced plans to separate the Russian business into a separate structure, exit from among its owners, change the name and engage in several areas, including autonomous cars. As of October 10, 2023, the stated plans have not been implemented.
As reported by Frank Media and confirmed sources of Kommersant, the approval of the deal was suspended for about a month and a half after August 10 statement Yandex co-founder Arkady Volozh spoke out against the Russian special operation in Ukraine. Maksut Shadayev suggested suspending the deal. After Mr. Volozh’s statement, the amount of payments due to Yandex NV decreased threefold – from almost $250 million to $70–80 million (a difference of more than $150 million).
Read more in the Kommersant article. “The owner of Yandex will be responsible for his words”.
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