June 2, 2020 / 1:02 PM / a month ago

Russia's Yandex may review its participation in joint projects

MOSCOW, June 2 (Reuters) - Russia’s top search engine Yandex is considering possible restructuring of its participation in joint projects, the company said on Tuesday.

The company did not provide any further details.

Russian media The Bell reported previously on Tuesday, citing unnamed sources, that Yandex and Sberbank, Russia’s largest lender, could terminate their partnership in two projects - Yandex.Money and Yandex.Market.

Yandex may place 5% of its additional A-class shares as part of the restructuring of this partnership, the Bell added. (Reporting by Nadezhda Tsydenova; writing by Polina Devitt; editing by Louise Heavens)

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