Yandex N.V. (YNDX)
- Reuters
Russia's Yandex launches food delivery service in Armenia
Russian tech giant Yandex on Wednesday said it had launched food delivery service Yandex Eats in Armenia, delivering on a promise to develop its e-commerce offering after selling some other business lines to rival VK. Yandex last month agreed to sell its news aggregator, content platform Zen and homepage yandex.ru to state-controlled VK in a move that is expected to tighten the government's grip on the internet. That deal, which closed on Monday after receiving regulatory approval, saw Yandex acquire VK's Delivery Club food delivery service, complementing its e-grocery and food delivery Yandex Eda offering, which includes Yandex Eats.
- Reuters
Russia's anti-monopoly service approves Yandex-VK internet deal
MOSCOW (Reuters) -Russia's federal anti-monopoly service (FAS) on Tuesday granted approval to technology companies Yandex and VK to proceed with an asset-swap deal but with some terms aimed at preserving competition. Yandex last week agreed to sell its news aggregator, content platform Zen and homepage yandex.ru to state-controlled VK in a move that is expected to tighten the government's grip on the internet. "The operator of these platforms will be obliged ... to ask for and receive users' consent to process personal data for each service separately," the FAS said in a statement.
- Reuters
Rouble steadies near 60 vs dollar, Yandex shares outperform market
The Russian rouble firmed slightly on Tuesday after initially easing beyond 60 against the dollar, while shares in leading internet firm Yandex outperformed the market after the company said it was selling some assets to state-controlled rival VK. Year-to-date, the rouble has become the world's best-performing currency as a result of capital controls that Russia has imposed to mitigate financial stability risks. Rouble volatility has subsided after wild swings that saw it hit a record low of 121.53 to the dollar on the Moscow Exchange in March soon after Moscow sent tens of thousands of troops into Ukraine on Feb. 24.
