October 22, 2018 / 3:43 PM / a year ago

Yandex mulls restructuring news services to comply with proposed law on foreign ownership

MOSCOW, Oct 22 (Reuters) - Russia’s top internet search engine Yandex said on Monday it would consider restructuring its news services to make them compliant with a proposed law limiting foreign ownership of news aggregators in the country, if it were to be adopted.

A company spokesperson said Yandex was monitoring the situation closely.

The draft law limiting foreign investors from owning more than a 20 percent stake in the country’s news aggregators has been sent to parliament, Interfax news agency reported on Monday. Yandex’s parent company is registered in the Netherlands. (Reporting by Anastasia Teterevleva Writing by Maxim Rodionov; Editing by Kirsten Donovan)

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