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  2. Yandex has struck a 475-billion-rouble deal to sell what has been dubbed "Russia's Google" to a group of Russian investors, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago.
    www.reuters.com/technology/yandex-nv-agrees-52-bln-sale-russian-assets-investor-consortium-2024-02-05/
    www.reuters.com/technology/yandex-nv-agrees-52-bln-sale-russian-assets-inve…
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    Why is Yandex unable to pay its debts?Yandex (YNDX), which handles about 60% of internet search traffic in Russia and operates a big ride-hailing business, said Thursday that it may be unable to pay its debts as a consequence of the financial market meltdown triggered by the West’s unprecedented sanctions .
    What happened to Yandex?The company said that two of its directors have resigned their positions and will not be replaced. Last year, Yandex had revenues of $2.6 billion. Its market capitalization currently stands at $6.8 billion after its share price dropped 60% In the last month.
    Where is Yandex located?Yandex’s headquarters in Moscow, Russia. Photograph: Shamil Zhumatov/Reuters Russia’s largest internet company is to sell off its news and blogging services to the state-controlled social media platform VK in a deal that will increase direct state control over the news many Russians see online.
    How much is Yandex worth?The $5.2 billion deal is a significantly lower price than Yandex's ultimate value - its market capitalisation briefly approached $30 billion in 2021 - but would be one of the largest deals since the war began. The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022.
     
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