October 22, 2018 / 3:46 PM / 9 months ago

Yandex mulls restructuring news services to comply with proposed law on foreign ownership

MOSCOW (Reuters) - Russia’s top internet search engine Yandex (YNDX.O) said on Monday it would consider restructuring its news services to make them compliant with a proposed law limiting foreign ownership of news aggregators in the country, if it were to be adopted.

A company spokesperson said Yandex was monitoring the situation closely.

The draft law limiting foreign investors from owning more than a 20 percent stake in the country’s news aggregators has been sent to parliament, Interfax news agency reported on Monday. Yandex’s parent company is registered in the Netherlands.

Reporting by Anastasia Teterevleva; Writing by Maxim Rodionov; Editing by Kirsten Donovan

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