A PYMNTS Company

Russia: Confidence drops in top search engine after Google left unpunished

By  |  January 15, 2013

Russian search engine Yandex is feeling the ripple effect from the recent decision by the FTC to let Google off without repercussions. Yandex’s shares reportedly fell .2 percent on the Nasdaq Composit Index as Google’s rose 2 percent, creating the widest price gap between the two competitors since last October. Analysts are attributing the hit to a loss of investor confidence in Yandex, some of whom expect to see Yandex sell off some of its share to Google. Yandex holds more than twice the market share of Google in Russia, according to reports, and will now face mounting pressure from Google as it looks to extend international business.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.