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VK Company Limited (LSE, MOEX: VKCO, hereinafter referred as “VK” or “the Company”) announces that it has reached an agreement in principle with Yandex around the main terms of the deal to acquire Yandex’s news aggregation platform and infotainment service Zen. 

While the parties have come to an agreement in principle on a transaction, they are continuing to discuss certain technical details, which will be announced in due course. To close the deal the parties will also be required to obtain all the necessary corporate governance and regulatory approvals, including the approval from Federal Antimonopoly Service (FAS).