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Prosus Looking to Sell $6 Billion Russian Ads Business Avito

  • Dutch tech firm to start process of seeking a buyer for unit
  • Prosus also plans to write down stake in Russian VK unit

Prosus NV is looking to sell its Russian classifieds ads business Avito, the latest international company to dispose of assets in the country following the invasion of Ukraine in February. 

The disposal plan comes after the Dutch e-commerce giant earlier moved to “decouple” itself from its biggest Russian asset two months ago. Analysts have previously valued the business at about $6 billion.