Tycoons’ Bids Value ‘Russia’s Google’ at $7 Billion
- Board may consider bids for 51% of Yandex’s Russian business
- Billionaires Potanin, Alekperov have submitted separate offers
A Yandex.Market collection order in Moscow.
Source: Bloomberg
Yandex NV has received bids from billionaires Vladimir Potanin and Vagit Alekperov to buy a controlling stake in Russia’s dominant search engine that value the company’s Russian assets at about $7 billion, according to people familiar with the matter.
The board of Yandex NV, which also owns a popular ride-hailing app and ecommerce platform in Russia, is likely to discuss the bids next week when it meets in Dubai, the people said, asking not to be identified because the information is not public. It may not make a final decision at the meeting, they said.