Yandex N.V. (YNDX)
- Reuters
Italy's Meloni vetoes Russian-linked takeover of tech company
ROME/MOSCOW (Reuters) -Italian Prime Minister Giorgia Meloni vetoed a takeover deal by a cloud services provider due to links with Russian internet giant Yandex, according to a government document and three people familiar with the matter. The decision marks the first time that Meloni's administration has used its so-called "golden powers" regulation to block undesired bids in industries deemed of strategic importance such as banking, energy, telecommunications and health. Meloni swept to power last October shortly after a resounding election victory.
- Reuters
Nasdaq tells Yandex, other Russian firms of plan to delist stocks
MOSCOW (Reuters) -The Nasdaq stock exchange has informed Russian Internet giant Yandex and e-commerce firm Ozon that their stocks will be delisted, the companies said on Wednesday, more than a year after trading in their securities was suspended. Nasdaq suspended trading in the securities of a number of companies operating in Russia days after Moscow despatched tens of thousands of troops to Ukraine on Feb. 24, 2022. Yandex and Ozon said they would appeal the decision.
- Reuters
Top brands pull out of Russia, but their goods remain easy to find
Trucks carrying Coca Cola roll across the border into Russia, tourists return from abroad laden with Zara's latest designs, and local online marketplaces snap up IKEA's furniture stocks. Despite European, North American and Japanese companies exiting Russia over its actions in Ukraine, the impact on Russian consumers is minimal, although delivery times can be longer and some goods more expensive. Brands' continued availability shows the challenge companies face in controlling supply chains when exiting a market.
