MOSCOW : Russian tech giant Yandex on Wednesday said it had reached a settlement agreement in a competition law dispute over its search engine results with Russia's Federal Antimonopoly Service and a consortium of IT companies.
Nasdaq-listed Yandex said the settlement confirmed that it had complied with all requirements of the warning, terminated the case without any fines, and set forth certain additional obligations for Yandex to support competition, including sharing information with the FAS. The FAS said in a statement the agreement was approved by Moscow's Arbitration Court after all parties had signed.
The FAS later brought an antitrust case against Yandex, saying it would investigate possible anti-competitive practices and assess their consequences.
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