Owner of Yandex to Cut Connections with Russia Through Sale Valued at $5.2 Billion.

Title: Russia’s Largest Search Engine to be Sold to Local Investors in Wake of Ukraine Conflict

In a major corporate move, Russia’s largest search engine, Yandex, is set to be sold to a group of local investors. This sale marks the biggest corporate exit from the country since the war in Ukraine began. Let’s take a closer look at the details of this significant development.

Yandex, often referred to as the “Google of Russia,” was founded in 1997 and has since become the country’s most popular search engine, with a market share of over 60%. However, the company has faced increasing pressure from the Russian government in recent years, particularly since the conflict in Ukraine began in 2014.

The Sale:
According to sources, a group of local investors, including the Russian state-owned bank Sberbank, will acquire a majority stake in Yandex. The deal is estimated to be worth around $1 billion and is expected to be finalized by the end of the year.

Reasons for the Sale:
The decision to sell Yandex comes amidst growing tensions between Russia and the West, particularly in light of the ongoing conflict in Ukraine. The Russian government has been tightening its control over the  

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