Gref made reformatting Sberbank projects with Yandex

The day before, Sberbank transferred his “golden action” to Yandex (gives the right to block the sale of more than 25% of the shares of Yandex), but will still remain a partner of the company, said the President of the State Bank German Gref on Wednesday in an interview with Reuters. But Gref did not rule out changes in joint projects of companies. The sources of The Bell previously talked about the difficulties in the joint projects of the bank with Yandex.

What's happened

“Formatting in any partnerships is possible. This does not mean that we will lose partnerships with Yandex, no. We have very long and good relations built on mutual respect, ”Gref said.

The main joint projects of companies are Yandex.Mades and Yandex.Market.

Companies are discussing a change in the Yandex.Money business model, requiring a separate banking license, Gref said. “We need a denouement: for example, we remove all non-compete agreements, and Yandex can develop payment services on its base (its own banking license),” he said. In Yandex, they did not comment on this. What non-compete agreements (non-competitive agreements) are being discussed, Gref did not specify. The service “nothing threatens”, but for “high -quality jump”, partners must determine the fate of the project, the words of the president of Sberbank reported Reuters.

Now Yandex.Money has a license of a non -bank credit institution. It does not allow you to attract deposits and issue loans. The State Bank has 75% in Yandexes.Dns, bought in 2013 for $ 60 million, the remaining 25% of Yandex.

What is important to know

Earlier, the sources of The Bell, familiar with the negotiations, said that Yandex and Sberbank are discussing the conditions for the divorce or redistribution of shares in both joint projects - Yandex.Money and Yandex.Markete. An agreement on non -competence signed by Sberbank Sberbank in Yandex.Money is one of the main restrictions for Yandex in the development of its own financial technologies. It was about the fact that Yandex fintech projects would develop on the basis of Sberbank infrastructure. Another problem on the path of a possible change in relations between partners is that the “money” works under the Yandex brand.

Gref also stated in an interview that he did not see violations of the competition for restriction of competition against Yandex.Market after the bank became an indirect participant in the AliExpress Russia, which competes with Yandex. The head of Sberbank called the "insignificant" share, the departed bank along with a share in Mail.ru Group. Nevertheless, Sberbank, according to Gref, will still discuss participation in the joint venture and study the possibility of cooperation with him in the payment business.

We wrote in detail about the Sberbank deal with Mail.ru here , about the new structure of the Yandex management, which demanded the transfer of the Golden Promotion to the Fund of Public Interests, here .