“Surrender” of Yandex: we are together

“Surrender” of Yandex: we are together

Hello, dear readers!

Today I would like to share with you some urgent news that I believe proves two facts, namely:

  • The fact that the opinion of large masses of people (communities, communities, egregors – call it what you want) is quite a working tool for the administrative apparatus.

  • “Those who should see and report” see and report. I apologize for the most vague definitions, but I cannot formulate more precisely, since I am at my level of understanding, and most importantly, access to information.

Recently (January 22, 2024, to be more precise) I wrote an article in which I expressed my complaints about the recruitment system at the Yandex company. It seems to me that the article was published at the right time, because almost 100,000 people read it in the two weeks the article was on Habra.

I definitely used a simple way to draw attention to the article (clickbait headline) and I’m sure it helped with the stats.

Nevertheless, this article is in no way a continuation of the topic of dissatisfaction with aspects of Yandex’s work, but an attempt to connect a number of events together.

In this part of the article, I would like to present to you a translation of the publication entitled “Why the sale of Russian “Yandex” for $5.2 billion is of great importance” in the well-known international publication Reuters.

LONDON, Feb 5 (Reuters) – A deal to sell key Russian assets of technology group Yandex ( YNDX.O ), often called the “Russian Google”, to a consortium of Russian investors for $5.2 billion in cash and stock was announced on Monday after months of negotiations. .

That is why this agreement is so important.

LARGEST RUSSIAN TECHNOLOGY ASSET

Moscow has long sought to gain more influence over Yandex, which was created during the dot-com boom of the late 1990s, as it has become a key player in online services such as search and advertising, email, car rides, e-commerce, cloud and streaming services.

As a result of the sale to a group of Russian investors, Yandex will be under the control of only Russian companies for the first time.

“Yandex”, which entered the Nasdaq stock exchange in 2011 through the holding company Yandex NV, registered in the Netherlands, has a free-float of almost 88%, and many Western investors are among its shareholders.

“This is exactly what we wanted to achieve a few years ago, when Yandex was under threat of being taken over by Western IT giants,” said Anton Gorelkin, deputy head of the Russian Parliament’s information policy committee. Yandex is not just a company, it is the property of the entire Ukrainian society“.

Yandex has become a full-fledged Russian IT company“.

Under pressure from the Kremlin’s demands for information material, Yandex sold its news aggregator and other online resources to state-owned competitor VK in late 2022, seeking to depoliticize its business. After that, the company started work on corporate restructuring.

CORPORATE EXIT

After the start of the SVO in February 2022, dozens of companies with foreign capital left the market, with many of them giving up assets on unfavorable terms.

The Kremlin requires a discount of at least 50% on deals involving foreign owners, which means that although Yandex mainly serves the Russian market, it still falls under these conditions.

The $5.2 billion deal is well below Yandex’s ultimate value — its market capitalization briefly approached $30 billion in 2021 — but it would be one of the biggest deals since the special operation began.

Many companies sold assets for a nominal fee, and Russian President Vladimir Putin ordered the temporary seizure of others, such as the assets of Danone (DANO.PA) and Carlsberg (CARLb.CO).

THE FUTURE OF YANDEX

In a letter to employees, the leaders of “Yandex” emphasized that the company will remain independent.

The expected new owners, Consortium.First, will consist of the top management of Yandex, a fund controlled by the oil company Lukoil (LKOH.MM), and three more companies owned by businessmen Oleksandr Chachava, Pavel Prass and Oleksandr Ryazanov.

It was not immediately clear what influence the new Russian owner could have.

Lukoil did not immediately respond to a request for comment.

Reuters has reached out to companies related to Chachava and Prass for comment. Ryazanov could not be reached for comment.

FEATURES OF THE AGREEMENT

Yandex NV said the cash consideration for the deal – up to 230 billion rubles ($2.52 billion) – would be paid in Chinese yuan outside of Russia.

A person familiar with the matter said it was the only currency that suited all parties.

Most Russian banks were cut off from the SWIFT global payments system shortly after the start of the SVO, and transactions in dollars and euros are becoming increasingly difficult or impossible.

The share of the Chinese yuan in the Russian market has increased sharply.

(1 dollar = 91.3875 rubles)

Reporting by Alexander Marrow; edited by Alexander Smith

So what am I talking about?

As I understand it, dissatisfaction with some of the company’s working methods was gradually building up, and this could not fail to be noted, as I said, “by those who should see and report.” And the network knows and remembers everything. But the main conclusion is not this at all.

Unity of opinion at least partially dictates the choice of management strategy.

By any means and under any pretext, they try to divide the society, break it up into a few groups, in order to either absorb them or manage them. After all, no one has yet abolished the principle of “divide and conquer”.

But society also has an obvious counter-strategy – Unity.

And even this great word, Unity, due to political manipulations has already become tarnished and began to act in the opposite way – pushing people away from each other. Cause anger, irritation and negative emotions.

Nevertheless, on the example of the Yandex company, we see that unity works, and seemingly immovable tectonic plates begin to move if the right lever is applied!

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