By Nadezhda Tsydenova and Anna Rzhevkina
(Reuters) – A draft law proposing to limit foreign shareholdings in Russian companies that offer online video streaming services to 20% could worsen the investment climate, a spokesperson for internet giant Yandex told Reuters on Monday.
Russian lawmaker Anton Gorelkin on Friday submitted the draft law to the lower house of parliament, the Duma, saying in a blogpost that new amendments were aimed at protecting the Russian market from “the excessive influence of foreigners”.
Yandex, which owns Kinopoisk, a film and TV streaming service, could be affected by the proposed legislation as it is publicly listed on the U.S. Nasdaq stock exchange and has a free float of 87%.
Currently there is no limit on foreign ownership of streaming service providers whose total audience …
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