Yandex, Europe’s largest internet business operating in the Russian market, clarified this week that it can continue to operate for at least the next 12 to 18 months, during the war between Russia and Ukraine.
Financially, CNN reported there is a concern about Yandex continuity, as the company does not have sufficient resources to redeem the notes in full. Investors who hold $1.25 billion in Yandex convertible notes have a right to demand repayment in full if trading in Nasdaq is suspended.
Yandex expects difficulties in getting supplies of hardware and software used by the business or offerings.
Besides, Yandex expects a reduction of the number and selection of goods they can offer through Yandex.Market, as many suppliers have announced intentions to suspend the sale of consumer goods to Russia.
Yandex is a Netherlands-registered company and listed in NASDAQ.