Yandex Drops $650 Million Office Purchase After Ruble Rebounds

  • Russian search engine planned deal to cut dollar-linked costs
  • Yandex to walk away from agreement after paying up to $700,000

Yandex NV, Russia’s largest search engine, will walk away from a deal to buy its Moscow office for about $650 million after its share price rebounded and the ruble reversed a slide against the U.S. dollar.

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