12/25/2019, 5:53 PM (Source: TeleTrader)
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Sberbank returns 'golden share' to Yandex

PJSC Sberbank revealed on Wednesday that it sold back the "golden share" it bought from Yandex N.V. in 2009.

The press service of the bank told TASS that the symbolic €1 transaction to Yandex Public Interest Fund was completed on December 23. Yandex also confirmed the news to the media outlet.

The "golden share" enabled its previous holder to veto any sale exceeding 25% of Yandex's stock, while the newly formed Public Interest Fund reportedly plans to lower the threshold to 10%.

Breaking the News / MS