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Yandex co-owner boosts stake in VK amid Russian tech consolidation efforts

Pavel Prass, co-owner of Yandex, plans to increase his stake in VK, a key competitor, as the company issues 354 million shares to raise up to 115 billion roubles for debt reduction. This move reflects ongoing consolidation in Russia's tech sector, driven by government initiatives and the exit of foreign firms. However, the industry faces a talent crisis, with a significant exodus of IT specialists threatening its development and technological independence.
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03:20 12.04.2025
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