Yandex and Sberbank can divide between themselves joint projects “Yandex.Market” and “Yandex.Money,” reported the newspaper the Bell. According to him, the business in retail will get the “Yandex”, and the financial the project can move to Sberbank. In “Yandex” confirmed that they consider the possible restructuring of the shareholding of the joint ventures (JV).”Yandex” and Sberbank in June plans to announce a “divorce”, announced the publication of the Bell with reference to the sources. The state Bank and the company jointly develop “Yandex.Market” and “Yandex.Money.”In “Yandex.Market” partners own 45% (10% from management), but now, according to the newspaper, it is planned that “Yandex” will buy a share of the savings Bank according to market estimates. Sberbank has invested in this venture at 30 billion rubles, now the whole business of “Yandex.Market” analysts at 90-96 billion rubles, the Revenue of “Yandex.Market” in the first quarter grew 65% year-on-year, the total turnover amounted to 60 billion rubles, reported the company on April 29.In “Yandex.The money” the savings Bank owns 75%, Yandex — 25%. The company can fully move to Sberbank.However, Yandex is preparing accommodation for up to 5% of its shares of class A, writes The Bell. Based on the current capitalization of the company, this share costs $670 million, “Yandex” considers possible restructuring of its ownership in joint ventures, said the representative of the Internet company, without specifying details. The savings Bank and the representative of Roman Abramovich does not comment on “market rumours”. “B” sent a request to VTB.Rumors about a possible divorce of Sberbank and “Yandex” appeared for the first time last summer, but at the same time the first Deputy Chairman of Sberbank Lev Khasis denied the Bank’s dissatisfaction with the results of “Yandex.Market”.In “Yandex”, especially after the recent placement of bonds for us $1.25 billion, funds to purchase the shares of Sberbank in the “Yandex.Market” should be enough, says analyst BCS Global Markets Maria Sukhanova. In the first quarter, the company had 167 RUB bln on the balance, not including funds from “Yandex.Taxi”. This analyst considers an obvious need for additional placement of shares of “Yandex”. Own money “Yandex” to purchase the shares in the JV would be enough, I agree Raiffeisenbank analyst Sergey Libin. On the other hand, the demand for shares of “Yandex” high, and “if there is demand, then why would they not release it”.Mr. Libin doubt that the reason for a possible divorce could be a conflict of interests of Sberbank, developing joint projects including with Mail.ru Group (a joint venture in the field of food and transport, including “Citymobil”, Delivery Club and other projects). Rather, the analyst believes, the partners were not happy with the results of my SP and decided to return to the initial configuration when the “Yandex.Market” is fully owned by Yandex.Perhaps, Sberbank, coming from the JV, will develop as��go-then your player in online Commerce, does not exclude the President of the Association of companies of Internet trade Artem Sokolov, but the war between the ecosystems, in his opinion, is unlikely as there is no point to win over existing customers, and need to expand the number of users willing to buy online.Dmitry Shestoperov
