November 18, 2019 / 12:25 PM / a month ago

Russian lawmaker may rework draft legislation after Yandex governance restructure

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MOSCOW, Nov 18 (Reuters) - The Russian lawmaker behind a draft law which would limit foreign ownership of Russian technology companies at just under 50%, has reacted positively to internet giant Yandex’s decision to restructure its corporate governance, he said on Monday.

Writing in a blog post, Anton Gorelkin said his law was not targeting Yandex, and said he might recall the draft legislation to amend it.

Yandex said it supported the idea of withdrawing the bill in its current form and said: “We believe the bill’s ideas can be achieved using less painful methods for the internet industry.” (Reporting by Maria Tsvetkova, Nadezhda Tsydenova; Writing by Alexander Marrow; Editing by Louise Heavens)

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