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Yandex stocks record-high from September 23, 2020

On August 31, Yandex informed it would buy out Uber stakes in Yandex.Eda, Lavka, Delivery services, and in the business of robotic cars and rovers

MOSCOW, September 1. /TASS/. Stocks of Russian technology Yandex climbed to 5,679.8 rubles ($77.6) per stock during the early trading hours on the Moscow Exchange, the all-time high figure since September 23, 2020.

Company’s stocks tumbled later by 0.2% and were traded at 5,604.4 rubles ($76.58) per security.

On August 31, Yandex informed it would buy out Uber stakes in Yandex.Eda, Lavka, Delivery services, and in the business of robotic cars and rovers. Yandex will also buy 4.5% of shares in the joint venture from Uber and will increase its stake to 71%, including stocks designated for the option program.

According to the company, the deal will amount to $1 bln and was approved by Boards of both companies. The transaction is expected to be completed by the end of the year.

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