Last week President Vladimir Putin signed the formal decree making the necessary changes to Russian law for the Yandex to change ownership and governance rules. These changes, their background and implications were analyzed by Mrs. Tatyana Stanovaya, the founder of the political analysis project R.Politik and a nonresident scholar at the Carnegie Moscow Center.
Earlier this month, Russian technology giant Yandex announced that it would be undertaking a company restructure. The decision followed lengthy negotiations with Kremlin officials, worried that foreigners could gain control of the privately owned internet giant.
The deal gives the state greater control over Yandex, with the company agreeing to create a new body, a “Public Interest Foundation,” registered in one of Russia’s offshore zones in Kaliningrad. The foundation will have a veto over any share consolidations above 10% and operational decisions over how the company uses personal data and intellectual property.
Political analyst Tatyana Stanovaya: “Yandex is safe for now, but Kremlin compromise is fragile”Read More
