November 28, 2010 / 3:31 PM / in 7 years

Russian internet firm eyes £1 billion IPO - report

1 Min Read

LONDON (Reuters) - Russian internet company Yandex is considering a 1 billion pound initial public offering in London early next year, the Mail on Sunday reported citing City sources.

Yandex, Russia's largest internet firm according to the paper, is most likely to choose London for its flotation but is also considering Nasdaq, with the IPO expected to take place in the first half of 2011.

Another Russian internet company, Mail.RU Group, raised $1 billion in a London IPO on November 5.

Yandex could not be reached for comment by Reuters on Sunday.

(Reporting by Sarah Young; Editing by David Cowell)

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