By Tatiana Voronova and Katya Golubkova
By Tatiana Voronova and Katya Golubkova
MOSCOW, Dec 25 (Reuters) – Russia’s Sberbank SBER.MM plans to proceed its partnership with Yandex YNDX.O despite the fact that it has transferred its ‘golden share’ within the nation’s main web firm to a different entity, Sberbank’s Chief Govt German Gref instructed Reuters.
To assuage Kremlin fears about potential international affect, Yandex this month authorized adjustments to its company construction to determine a “public curiosity basis” which might obtain Sberbank’s golden share and numerous different rights.
Sberbank, Russia’s high financial institution, has additionally agreed to purchase a stake in web firm Mail.Ru MAILRq.L, as Gref continues to rework the lender right into a banking-to-online providers firm.
The Mail.Ru deal and the switch of the Yandex golden share have raised questions on the way forward for Sberbank’s partnership with Yandex, which incorporates joint ventures Yandex.Market and Yandex.Cash.
…