Yandex, often called “Russia’s Google,” said it reached a deal to sell off its assets in the market where it made its fortune, after the war in Ukraine upended its operations.
I’m sure this will go very well for Yandex. Surely they will be welcomed with open arms by the West, and will definitely be able to continue to capitalise on the Russian market.
My impression is that the Dutch parent company that owned Yandex got forced out of Russia. NYT just intentionally obscures that in the article. The give away is:
That value represents roughly half of Yandex’s current market capitalization, a reflection of steep discounts that the Kremlin has imposed to punish companies that have tried to leave the country and are based in countries that the Kremlin considers unfriendly.
What they’re saying there is that it was a forced sale at half the value to a Russian buyer that took over Yandex.
I’m sure this will go very well for Yandex. Surely they will be welcomed with open arms by the West, and will definitely be able to continue to capitalise on the Russian market.
My impression is that the Dutch parent company that owned Yandex got forced out of Russia. NYT just intentionally obscures that in the article. The give away is:
What they’re saying there is that it was a forced sale at half the value to a Russian buyer that took over Yandex.
Its a small price for the executives “to pay” to be able to fly private jets safely. ~Brace Belden, (I mean, he probably would say it)