Yandex, Russia’s leading tech company, has agreed to split up its shared ecommerce and payment joint ventures with state lender Sberbank, bringing to an end a decade-long partnership that had soured in recent years.
Under the deal, Yandex will buy out Sberbank’s 45 per cent share in ecommerce venture Yandex.Market for Rbs42bn ($604m) and sell its 25 per cent stake in payments platform Yandex.Money to the bank for Rbs2.4bn.
The divorce marks the culmination of growing…
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