VK entered into an agreement with Yandex on the purchase of Novosti and Zen. Now it is necessary to coordinate with regulatory and corporate bodies, and it will be possible to make a deal. The company’s announcement says:
“April 28, 2022 VK Company Limited (LSE, MOEX: VKCO, hereinafter referred to as “VK” or the “company”) announces the signing of an agreement on the main terms of the transaction with Yandex to acquire the Yandex.News news aggregation service and recommendation platform “Yandex.Zen”.
It is also specified that the parties must obtain all necessary approvals, including from the Federal Antimonopoly Service (FAS). After completion of all formalities, the company will disclose the details of the transaction, writes RIA News.
Our publication previously reported that Elon Musk bought Twitter Inc. (TWTR.N) for $44 billion, in a deal that will transfer control of the world’s most popular social media platform, used by millions of users and celebrities around the world, to the world’s richest man.
It’s worth noting that final deal talks seemed uncertain last week but intensified over the weekend as the world’s richest man impressed shareholders with the financial details of his proposal.