Yandex May Swap Face.com Stake for Facebook, Vedomosti Says
By Yuliya Fedorinova -
2012-05-29T03:51:38Z
Yandex NV (YNDX), Russia’s most-used search engine, may swap its 18.4 percent stake in the Face.com Internet service for a stake in Facebook Inc. (FB), Vedomosti reported today, citing unidentified people familiar with the talks.
Alternatively, Yandex may just sell the stake for cash, the newspaper said.
Face.com develops face-recognition technology that allows users to search for photographs on the Internet.
To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net
To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net
More News:
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.