|Bid||0.00 x 800|
|Ask||0.00 x 1100|
|Day's range||17.83 - 24.05|
|52-week range||17.83 - 24.05|
|Beta (5Y monthly)||1.04|
|PE ratio (TTM)||N/A|
|Earnings date||24 Jul 2023 - 28 Jul 2023|
|Forward dividend & yield||N/A (N/A)|
|1y target est||73.13|
Nasdaq-listed Yandex on Thursday said it had received proposals from a number of investors for stakes in its Russia-based businesses, as it progresses a restructuring process that will see the company spin-off some assets. Since Moscow invaded Ukraine in February 2022, Yandex, while not itself under sanctions, has struggled to balance domestic pressure with the interests of its Western investors, and is now divesting its main revenue-generating businesses inside Russia and developing four newer units internationally. Russian billionaires including Vladimir Potanin, CEO and the largest shareholder of metals giant Nornickel, and Vagit Alekperov, co-founder and a major shareholder in oil major Lukoil, are among the bidders for assets ultimately valued at around $14 billion, three people familiar with the matter told Reuters last week.
(Bloomberg) -- Yandex NV has received bids from billionaires Vladimir Potanin and Vagit Alekperov to buy a controlling stake in Russia’s dominant search engine that value the company’s Russian assets at about $7 billion, according to people familiar with the matter.Most Read from BloombergMcCarthy Puts Debt-Limit Talks on ‘Pause’ as Clock Ticks DownDisney Closes Florida Star Wars Hotel, Scraps Plan to Move 2,000 EmployeesMorgan Stanley CEO Gorman to Step Down Within 12 MonthsWall Street Fears $1
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(Reuters) -Nasdaq-listed Yandex, often dubbed "Russia's Google", has received bids from Russian billionaires for assets it is seeking to divest in the country that value them at some $14 billion, three people familiar with the matter told Reuters. Vladimir Potanin, CEO and the largest shareholder of metals giant Nornickel, and Vagit Alekperov, co-founder and a major shareholder of oil major Lukoil, are among the bidders, the sources said. Given Kremlin measures that oblige foreign companies leaving Russia to sell their assets at a 50% discount, Yandex's Dutch-registered holding company Yandex NV - whose shareholders are mostly Western investment funds - could ultimately make some $7 billion from a full divestment, they said.
Russian tech giant Yandex exceeded analysts' expectations on Thursday with a 54% jump in first quarter revenue to 163.3 billion roubles ($2 billion) and a return to profit after posting a net loss in the same period last year. Since Moscow sent troops to Ukraine in February 2022 the company often dubbed "Russia's Google" has struggled to balance domestic pressures with the interests of its Western investors. Alphabet's Google stopped selling online advertising in Russia last March, while keeping some free services available, allowing Yandex to gain market share.
"As a result of the deal, Yandex will become the sole owner of the group, which includes a taxi ordering service, carsharing and scooter rental," Yandex said in a statement. Uber in 2021 divested its stake in a foodtech and delivery joint venture with Yandex.
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.
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.
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.
Russian tech giant Yandex said on Tuesday that fragments of its program code had been leaked online, with a preliminary investigation revealing violations of some of its own internal policies. "The company is taking this matter extremely seriously and has initiated a thorough investigation into the cause, content and implications of the leak," Yandex's Dutch holding company said in a statement. Since Russia sent its armed forces into Ukraine last February, websites of many Russian companies and news websites have suffered sporadic hacking attempts.
MOSCOW (Reuters) -The co-founder of Russian internet giant Yandex, Arkady Volozh, said goodbye in an internal message to staff on Friday ahead of a corporate restructuring that could see ownership of many of the firm's core services change hands. Volozh stepped down as CEO and left the board of directors after the European Union included him on its list of sanctions against Russian entities and individuals in June. Yandex, often referred to as "Russia's Google", has sought to find a balance between its Western investors on one side and the Kremlin on the other.
MOSCOW (Reuters) -Alexei Kudrin, a longtime ally of Russian President Vladimir Putin, said on Monday he would join technology giant Yandex to advise on corporate development as the company begins a sweeping governance and ownership overhaul. Yandex's Dutch-registered holding company last month said it planned to divest ownership and control of most of Yandex Group, including its main revenue-generating businesses, a move that could lead to enhanced Kremlin influence over some of Russia's backbone internet services. Since Russia launched what it calls a "special military operation" in Ukraine in late February, Nasdaq-listed Yandex, often referred to as "Russia's Google", has grappled with domestic pressure on one side and its Western investors on the other, prompting speculation about its future.
MOSCOW (Reuters) -The upper chamber of Russia's parliament approved the resignation of Alexei Kudrin as head of the Audit Chamber on Wednesday, paving the way for him to take up a potential role at Russian technology giant Yandex. Kudrin, a close ally of President Vladimir Putin throughout his career, becomes the highest profile government official to leave a post since Russia sent tens of thousands of troops into Ukraine in February. Sources expect Kudrin to take up a role with Yandex, which last week announced a review of a possible sweeping governance overhaul that would leave its major business units in Russia under new ownership.
(Bloomberg) -- Alexei Kudrin, a longtime ally of Vladimir Putin, is expected to take a senior role in a restructuring of Yandex NV after winning the Russian president’s blessing to leave government service amid an overhaul of the country’s most prominent technology company following sanctions imposed over Putin’s war in Ukraine.Most Read from BloombergScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceThese Are the Best and Worst Cities for Expats to Live and Work InBanks Stuck With $
MOSCOW (Reuters) -Russian internet giant Yandex's Dutch holding company on Friday said it planned to divest ownership and control of most of Yandex Group, with the international divisions of some services to be developed outside Russia. Since Russia launched what it calls a "special military operation" in Ukraine in late February, Nasdaq-listed Yandex, often referred to as "Russia's Google", has grappled with domestic pressure on one side and its Western investors on the other, prompting speculation about its future. Dutch-registered Yandex N.V. said in a statement it was reviewing options to "restructure the group's ownership and governance in light of the current geopolitical environment".
Russian President Vladimir Putin and former Finance Minister Alexei Kudrin touched on the future of internet giant Yandex in a late night meeting, three people familiar with the matter told Reuters on Friday. Sources told Reuters that Kudrin, one of the country's top economic officials and a long-time colleague of the president, is expected to leave his role as head of Russia's Audit Chamber to take up a position with Yandex. The future of the company, which dominates Russia's online search and ride-hailing markets, but also has several operations abroad, has been the subject of speculation in Russian media in recent months.
The company has informally enlisted former finance minister Alexei Kudrin to win Putin's approval, in principle, for the restructuring plan, according to the report. If Putin gives his final assent at their meeting later in the day, Kudrin is expected to leave his current role of heading the Audit Chamber, a government accountability body, for a leading position at Yandex, the report said. The changes would lead to Yandex's Dutch holding company exiting the Russian market by selling its entire business apart from the international divisions of four key units, it said.
Yandex Market, owned by Russian internet giant Yandex, said on Friday it had agreed to buy up the remaining inventory of Swedish furniture giant IKEA, which has closed its shops in Russia. Yandex signed binding documents on Nov. 16 to buy more than 20 million IKEA products, from furniture to stuffed toys, left over from the final online sale this summer, it said, adding that it will start selling the items before the end of the year. Yandex will sell the products in a section of its online marketplace designated 'IKEA goods', which combines items from production sites in Russia which used to supply IKEA, shop inventory and IKEA goods brought from overseas.
MOSCOW (Reuters) -Russian internet giant Yandex on Thursday reported a 46% year-on-year increase in third quarter revenue to 133.2 billion roubles ($2.14 billion) and said it had expanded its dominant share of the domestic search market. Yandex in August agreed to sell its news aggregator, content platform Zen and homepage yandex.ru to Russian state-controlled VK in a move that is expected to tighten the government's grip on the internet, but Yandex's stranglehold on online searches has grown, accounting for a little under half of its revenue. Yandex has, like many Russian companies, endured a turbulent year.
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.
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.
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.
The Russian government tightened its grip on the internet on Tuesday, as a state-controlled company with close links to President Vladimir Putin agreed to buy the news feed and homepage of the country's most popular website. Yandex, often referred to as Russia's Google, said it was selling its news aggregator, content platform Zen and yandex.ru homepage to VK to focus on other business areas, such as food delivery and ride-hailing. In exchange, Yandex will acquire food delivery company Delivery Club from VK.
MOSCOW (Reuters) -Russian tech firm VK on Tuesday said it had exited its joint venture with top lender Sberbank, paving the way for a deal with competitor Yandex that may have significant ramifications on Russia's internet industry. Leading internet firm Yandex said it had agreed to sell its news aggregator and yandex.ru homepage to state-controlled rival VK, a move that will likely further limit Russians' access to independent media. VK said it had exited its O2O Holding joint venture with Sberbank, taking full control of food delivery service Delivery Club in the process.
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