Yandex co-owner to increase stake in rival Russian tech firm VK

FILE PHOTO: The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/ File Photo

(Reuters) - One of the co-owners of Russian tech company Yandex, Pavel Prass, is set to increase his stake in Yandex rival VK through another company he has a minority stake in, a VK statement published on Friday showed.

A $5.4 billion cash and shares deal finalised in July 2024 brought foreign ownership in Yandex, often dubbed Russia's Google, to a close, potentially tightening the Kremlin's oversight of the internet in Russia.