Yandex considers possibility of transferring management to Russia

Yandex is considering an option of transferring governance of a group of companies intended for a spinoff to Russian management, the technology company said in its press release.

"An opportunity is also considered to change the corporate structure, whereby governance of a group of companies to be spun off will be transferred to Yandex management," the company said, TASS reports.

The company is also eyeing an option for a spin-off of its core business to a separate group of companies, Yandex said.

"Yandex N.V. is considering an option for a spinoff of its core business, including a number of foreign lines, to a separate group of companies that will keep the Yandex brand. The Netherlands-based Yandex N.V. plans to withdraw from the body of shareholders in this group of companies over time and change its name," the company said.