Yandex Just Gained a Powerful Political Ally
Shares of Yandex (NASDAQ: YNDX), the second largest search engine in Russia, recently rallied after Prime Minister Mikhail Mishustin, who was appointed to the post in mid-January, voiced his support for the company.
President Vladmir Putin nominated Mishustin, who previously led Russia's Federal Tax Service, for the position after the resignation of Prime Minister Dmitry Medvedev and his entire cabinet on Jan. 15. Those resignations reportedly cleared the way for Putin's upcoming constitutional reforms ahead of his planned retirement in 2024.
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Source Fool.com
