CEO says Sberbank has no plans to stop partnership with Yandex

MINSK, Jul 16 (PRIME) – There are no grounds for termination of partnership between Russia’s Sberbank and Internet company Yandex, head of the country’s biggest bank German Gref said on Tuesday.

“We definitely don’t intend to sever our relationship,” Gref said. “We have very kind, partner relations, we’re partners on a number of projects, huge projects. What sense does it make to stop the relations?...I hope we’ll cooperate always. We can work together on some projects and compete in others.”

In 2018, Yandex and Sberbank sett up a joint venture that develops marketplace Beru on the basis of Yandex.Market. The partners have equal non-controlling stakes.

Media reported earlier that the partners did not like the way their joint venture advances and had already exchanged views on a possible divorce. Both Sberbank and Yandex denied the reports.

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