Yandex reaches “binding” deal to divest news service, homepage to VK

Russian tech giant Yandex said Tuesday it has reached a “binding” deal to sell its news platform and homepage to rival VK as war-related sanctions fuel uncertainty over the Russian tech industry’s future.

VK said it exited its joint venture with top lender Sberbank to pave the way for the deal with Yandex, once considered the jewel of Russia’s rising IT scene.

Yandex said it is pursuing a “strategic exit from its media businesses” with the sale of Yandex.News, Yandex.ru and the Yandex.Zen blogging tool to VK.

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