November 18, 2019 / 12:17 PM / 22 days ago

Kremlin says Yandex governance changes are matter for company only

MOSCOW (Reuters) - The Kremlin said on Monday it did not and would not interfere with proposed changes to Russian internet giant Yandex’s (YNDX.O) corporate governance structure.

Yandex’s golden share, owned by Russia’s largest lender Sberbank (SBER.MM) will be transferred to a Public Interest Foundation (PIF), the company said on Monday, something which was not agreed with the Kremlin in advance, said Kremlin spokesman Dmitry Peskov.

Reporting by Alexander Marrow and Andrew Osborn; editing by Maria Kiselyova

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