The cost of Yandex fell by $ 1 billion after messages about the deal with Sberbank

The cost of shares of Yandex NV (the head company of the Yandex group) fell sharply against the background of reports of Sberbank's intention to buy 30 percent of the company's shares. According to RBC, within a few minutes the cost of papers on the Moscow Exchange decreased from 2356.5 to 2185 rubles. (minus 7.28% of the maximum of the day), and on the NASDAQ exchange - from $ 35.9 to $ 33 (minus 8%).

Earlier, Vedomosti and The Bell reported that Sberbank was negotiating a large package of Yandex shares.

Since 2009, Sberbank has a € 1 “Golden Promotion” “Yandex” bought for a symbolic. From the document disclosure documents it follows that it gives Sberbank the right to block the purchase of more than 25% of the authorized capital or the vote of the company with any its shareholder or third party, as well as the sale of all or a significant part of the company's assets of the third party.

According to The Bell, Sberbank motivates its proposal to buy a share, including by the fact that the transaction will protect the company from possible problems - for example, from competitors.