Yandex co-owner to increase stake in rival Russian tech firm VK
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 11 2025
0mins
Source: Reuters
Yandex Stake Acquisition: Pavel Prass, co-owner of Yandex, is increasing his stake in rival VK through a minority-owned company, following a significant deal that transferred Yandex's Russian assets to a consortium of local investors, tightening Kremlin control over the internet.
VK Financial Moves: VK reported a net loss exceeding $1 billion for 2024 and plans to raise up to 115 billion roubles through a share issue to alleviate its debt, with the potential for Prass and other investors to own 61% of the company's increased capital if approved.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
