Yandex obtains one required government approval for planned … – Reuters

MOSCOW, Oct 27 (Reuters) – Nasdaq-listed Russian tech company Yandex (YNDX.O) on Friday said it had obtained one of the required approvals needed from the Russian government for its restructuring, which it hopes to complete by the end of 2023.

Dutch holding company Yandex NV has been working on a corporate restructuring for months, hoping to recoup some shareholder funds with the sale of its main revenue-generating Russian businesses, such as search and ride-hailing. It then plans to develop four other business lines internationally.

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