The FAS has said it is ready to approve the purchase by Sberbank of a stake in «Yandex»

© RIA Novosti / Alexei Filippoupolitis in photobacteria Federal Antimonopoly service of Russia. Archival photoThe FAS has said it is ready to approve the purchase by Sberbank of a stake in «Yandex»© RIA Novosti / Alexei Filippoupolitis the image Bank

The Federal Antimonopoly service (FAS) approved the acquisition by Sberbank of a stake in «Yandex», if such a question is raised, the head of Department Igor Artemyev.

«Of course we approve, if it will be necessary to approve, one hundred percent,» — said Artemyev to journalists on the sidelines of the conference on Antimonopoly regulation.

The head of the FAS admitted that he does not understand the reaction of the market following the news about the possible purchase of the fall of the shares of «Yandex».

«It’s not that it (the company «Yandex» — ed.) will or will not be free, she was free, so be it — no one limit will not be», — he said.

According to Artemyev, the savings Bank could offer «Yandex» an impressive number of tools for quick development. He explained that it would be a transaction between two totally different markets, which does not lead to the increase of concentration on them.

Publishing The Bell last Thursday, citing a source said that Sberbank is negotiating the purchase of a large package of shares of «Yandex» — up to 30% of the capital. And although later in the press service of the largest Bank in Russia RIA Novosti reported that Sberbank has not received offers to purchase shares and is not addressed to the company with a similar proposal, by the close of trading Friday, October 19, the shares of «Yandex» has fallen by almost 20% to 1790 rubles. And on Monday, 22 October, Yandex announced that its founder Arkady Volozh plans to continue to lead the company and does not intend to sell a stake in it. The company is subject to various proposals for the purchase of shares noted in the message.

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