October 22, 2018 / 10:14 AM / a year ago

Russia's Yandex says often gets offers, co-founder Volozh does not plan to sell stake

MOSCOW, Oct 22 (Reuters) - Russia’s top internet search engine Yandex said on Monday it regularly receives various offers and expressions of interest from third parties and its board “in the normal course of business” considers its capital structure.

Yandex statement comes amid speculation that Sberbank , Russia’s top bank, has sought to buy a stake in the company, a plan Sberbank has denied. The speculation has caused volatility both in Sberbank and Yandex shares.

Arkady Volozh, Yandex chief executive and co-founder who with other team members control around 57 percent of the firm, said in the statement: “I am committed to leading Yandex to new heights, and I have no intention to sell my shares.” (Reporting by Anastasia Teterevleva Writing by Katya Golubkova; editing by David Evans)

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