MOSCOW — President Vladimir Putin on Thursday called the Internet a CIA project and made comments about Russia’s biggest search engine Yandex, sending the company’s shares plummeting.
The Kremlin has been anxious to exert greater control over the Internet, which opposition activists — barred from national television — have used to promote their ideas and organize protests.
Shares of Yandex NV (YNDX), the Russian internet giant, declined today following news that the country’s antitrust agency had launched a full investigation into the contextual ads that the company had placed on its search engine.
Russia’s Federal Antimonopoly Service (FAS) released a statement on its website, confirming that it had found Yandex’s gambling ads to be in violation of local laws, and was making arrangements to hold the company liable in court.
By Trade In Mexico:Monster Worldwide, Inc. (MWW) was once a high-flying stock but now it is trading at deep value levels, especially for a company in the Internet sector. This company has developed and operates a number of popular websites which are geared towards job-seekers and employers. "Monster.com" is widely-used in the United States, Europe, Asia and other areas.
By Robin Wauters
Yandex, one of the leading Internet companies in Russia, this morning announced the pricing of its initial public offering of a little under 52.2 million Class A ordinary shares at $25.00 per share. The shares will begin trading later today on NASDAQ under the symbol “YNDX.” The offering would give Yandex a market cap of roughly $8 billion.
Trent Tillman submits:With investors still euphoric over the LinkedIn (LNKD) IPO debut on Thursday, attention turns to the next big Internet IPO scheduled for next week. Russian search giant Yandex N.V. (YNDX) is scheduled to price Monday, May 24th.