Today, Yandex shares have fallen sharply in price against the backdrop of discussions in the State Duma of a bill on significant information resources, which involves imposing restrictions on the rights of foreigners to own and manage Internet resources that are informationally significant for the development of infrastructure.
According to the RBC resource, in an hour since the start of trading on the American NASDAQ stock exchange, Yandex shares have fallen in price by more than 16% and their value continues to fall, falling by more than 18% by 17:40 Moscow time. On the Moscow Exchange, the company's shares also fell in price - by 18,39% by 17:30 Moscow time.
According to the amendments to the legislation, which were discussed in the relevant State Duma Committee on Information Policy on October 10, the share of ownership of foreign companies and individuals in such resources should be limited to 20%. In case of violation of this condition, the authors of the bill propose to ban in Russia the advertising of this resource and the services it provides, as well as the placement of advertising on it.
Although the list of significant Internet resources, according to the bill, will be determined by a special government commission, deputy Anton Gorelkin, the author of the initiative, named Yandex and Mail.Ru Group as potential candidates for inclusion in this list. However, this has not yet affected the shares of Mail.Ru Group.
Source: 3dnews.ru