Russia’s Yandex board approves buyback for up to $300 mln

MOSCOW, Nov 18 (PRIME) -- The board of directors of Russian Internet giant Yandex has endorsed a repurchase of up to U.S. $300 million shares, the company said in a statement on Monday.

“Yandex, one of Europe's largest internet companies and the leading search provider in Russia, today announces that its board of directors has authorized a repurchase of up to $300 million worth of Class A shares of Yandex N.V. Such shares may be repurchased from time to time in open market transactions.”

The timing and amount of the buyback will depend on market conditions.

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