Yandex has granted veto powers to a body with close government ties. Image via Financial Times.
Technology

Russian search giant grants veto powers to government-tied body

Yandex, the most widely used search engine in Russia, recently announced a corporate restructuring where it will grant the Public Interest Foundation, which has close government ties, a 'golden share' which will allow it to veto decisions in key departments, to "defend the country's interests". The golden share previously belonged to a Russian state bank and was created in 2009 to avoid a foreign takeover of Yandex.

tech russia yandex search giant pif veto

Mon Nov 18 - TheGuardian

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