Russia's Google, Yandex, Contemplates Comprehensive Sell-off of Russian Assets Amid Geopolitical Tensions
Portfolio Pulse from Vandana Singh
Yandex NV (NASDAQ:YNDX), often referred to as 'Russia's Google', is considering a complete sell-off of its Russian assets. The Dutch holding company aims to finalize the deal by the end of the year and refocus on international business lines. The potential deal value is estimated to be around 560 billion roubles ($6.18 billion), with previous bids for half the company at $7 billion. Yandex has faced challenges due to geopolitical tensions and pressure from the Kremlin, leading to the sale of certain assets to VK and a corporate restructuring to depoliticize its operations. A board meeting in Dubai is scheduled for the end of November to discuss the deal, which requires shareholder and Russian government approval.
November 15, 2023 | 2:58 pm
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Yandex NV is exploring the sale of its Russian assets, which could significantly alter the company's structure and focus. The deal, estimated at $6.18 billion, is subject to negotiations and government approval.
The news of Yandex NV considering the sale of its Russian assets is highly relevant to the company and could have a significant impact on its future operations and financial performance. However, the outcome and timing of any deal are uncertain, and the need for government approval adds complexity. This uncertainty leads to a neutral score, as the market may react cautiously until more concrete details emerge.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100