Stock of the day, “Yandex” in the trend: traders
The leaders of the trading were shares of the company “Yandex” on Tuesday, August 31. During the day, the securities rose by + 4.39% to 5 587.6 rubles per share. Thus, the value of the shares approached the price at which the securities were trading in September 2020.
Traders showed interest in the securities amid news that the company will fully buy out Uber’s shares in Yandex.Food, Yandex.Shop, Yandex.Delivery services, as well as in the business of uncrewed vehicles and rovers. Yandex will spend $ 1 billion for these purposes.
As a result of the purchase of shares in the joint venture from Uber, today’s 4.5% stake in Yandex will increase to 71%. Also, within two years, the company will be able to buy the remaining share of Uber at a price fixed in the range of $ 1.8-2 billion.
The deal plans to be closed by the end of the year.
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