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Yandex shares fall by over 9% on Moscow Exchange

By 10:15 Moscow time, the company's shares reached 3,033.2 rubles ($33.22) per share (-4.05%)

MOSCOW, February 5. /TASS/. The price of Yandex shares on the Moscow Exchange fell by more than 9% on Monday following news of Yandex N.V. selling the business to a private investor consortium for 475 bln rubles ($5.22 bln).

As of 10:00 Moscow time, Yandex shares fell by 9.26% to 2,870 rubles ($31.52) per share. By 10:15 Moscow time, the company's shares reached 3,033.2 rubles ($33.22) per share (-4.05%).

It was reported earlier on Monday that Yandex N.V. announced the sale of its Yandex business to a consortium of private investors for 475 bln rubles ($5.22 bln).

IJSC Yandex, registered at the end of 2023 in Kaliningrad, is set to become the new parent company of Yandex. According to the decision, Yandex N.V. will cease to be the parent company of the group and will change its name and stop using Yandex brands by July 31, 2024.

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