Sberbank denies reports on Yandex stake purchase, Yandex stock falls

MOSCOW, Oct 19 (PRIME) -- Russia’s biggest bank Sberbank has received no offers to buy a third of Internet giant Yandex, whose shares tumbled following media reports, a Sberbank spokesperson said late on Thursday .

“Sberbank has not received an offer to buy Yandex shares and has not addressed Yandex with a such an offer,” a bank spokesperson said.

A Yandex spokesperson said the company does not comment on rumors.

Despite the official statements, Yandex’s American depositary receipts lost 17.81% on Thursday to U.S. $29.49 in New York.

In Moscow, Yandex’s common shares plunged 7.72% to 2,062.5 rubles as of 11 a.m. Moscow time.

(65.7238 rubles – U.S. $1)

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