The Russian giant Yandex, which owns the country’s most popular search engine, and one of the most popular in the world, as well as online services of personal transport services, warned on Friday that it is in danger of collapsing financially due to sanctions in Russia. Yandex manages about 60% of the total volume country search.
In a statement, the Russian company warns that it may find itself in a position of insolvency.
The company is headquartered in the Netherlands, but operates for Russia and Russian-speakers, and is listed on the Russian Stock Exchange, which is closed for several days. Investors holding $ 1.25 billion in Yandex convertible banknotes have the right to demand full repayment, plus interest, if trading in its shares is suspended on the Nasdaq for more than five days, CNN reports.
Yandex makes it clear that it will not be able to fully redeem these claims if requested – something that would force the company to collapse. s too limited
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