Yandex sells news, content recommendation services to Russia’s VK – Reuters.com

People walk near the headquarters of Yandex company in Moscow May 23, 2011. The sign reads “Yandex”. REUTERS/Sergei Karpukhin/File Photo

April 28 (Reuters) – Tech giant Yandex (YNDX.O) said on Thursday it was selling its news aggregator platform Yandex News and content recommendation service Yandex Zen to its Russian rival VK (VKCOq.L).

Yandex, one of Europe’s largest internet businesses, registered in the Netherlands, and Russian internet portal VK said they had come to an agreement in principle on the deal, and that they would announce details in due course.

The deal is subject to approval by Russia’s anti-monopoly watchdog, Yandex said.

Moscow-listed shares in Yandex gained 1% following the announcement, outperforming the broader market. Depository receipts in VK slumped 2% on the Moscow Exchange, pressured by an increased first-quarter net loss that the company reported on Thursday.

Yandex, Russia’s top search engine, reported a first-quarter loss earlier this week and…

Read Full Story: https://www.reuters.com/technology/yandex-sells-news-content-recommendation-services-russias-vk-2022-04-28/

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