Russia’s Yandex looks to sell its services in Israel amid critical losses – Haaretz
Russian company Yandex has decided to sell several of its key Israeli assets and may have already begun meeting with buyers, according to sources close to the deal, after it was undermined by Russia’s invasion of Ukraine.
The three main operations it looks to sell are its Yango taxi service; Yango Deli, a delivery service; and Wind, a scooter service that Yandex bought less than a year ago for between $20 million and $30 million.
Sources involved in these industries said the company would likely earn hundreds of millions of shekels should it sell all of them, but are uncertain if all will end up being sold.
Yandex is a technology giant that developed a popular Russian search engine and has therefore been dubbed “the Russian Google.” Its other developments include automated vehicles, food tech, cloud services and ecommerce.
In recent years, Yandex has viewed Israel as a strategic market and begun developing various operations here. Its decision to sell its taxi, delivery and scooter…
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source: https://news.oneseocompany.com/2022/07/19/russias-yandex-looks-to-sell-its-services-in-israel-amid-critical-losses-haaretz_2022071923925.html
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