Yandex could move under the control of the state

The fact that The State Bank may get a “golden share” in runet the largest search engine Yandex, “Vedomosti” reported two sources at the Russian State Bank. However, the final decision on the transaction is still pending, they stress. The representative of the Savings Bank has refused comment. But close to the bank sources confirmed that such a scheme is discussed. The state wants to be sure that “Yandex” did not sell the share of foreign companies, explains one of the interlocutors “Vedomosti”.

Draft transfer state bank “golden share” Yandex “was discussed with the deputy head of the presidential administration Vladislav Surkov, confirmed a source close to the presidential administration. Receptionist Surkova correspondent Vedomosti addressed to his adviser Konstantin Kostin, who declined to comment on.

The main point is that the state will get together with a “golden share” - the right of veto on the deal, said close to the shareholders of “Yandex” source “Vedomosti”. Home Company “Yandex” - Yandex NV is registered in Holland, so the bank will receive a Dutch action, said the manager “Yandex”. Often, the action gives the State, said partner Nerr Shtifenhofer Lutz “Ilya Rachkov. Its owner has, for example, the right to veto certain decisions, a list of which can put in their share agreement.

Director “Yandex” Arkady Volozh waived formal comments.

16 April 2009 | action, control, runet, russia, sberbank, source, state, state bank, statements, system

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