(Read the full article on News.ru)

The FAS’s statement to initiate a case against Yandex for failure to comply with the search results resulted in a decrease in the value of the company’s shares, News.ru said.

At 18:33 Moscow time on April 13, the value of Yandex shares during trading on the Moscow Stock Exchange fell by 7.1% and at the moment reached 4,510 rubles per share. By 18:48 Moscow time, shares slowed down their decline and traded at 4,536 rubles (-6.55%), News.ru reported, citing TASS.

According to the FAS, Yandex created unequal (discriminatory) conditions by providing its own portals with advantages in promoting and attracting the attention of users in the search engine, the official website of the department reported.

The developer was also obliged to ensure the display of third-party sites according to uniform ranking principles used to form organic results in the Yandex search engine, on equal terms, preventing the preferential demonstration of their own services, the official website of the FAS RF reports.

Earlier NEWS.ru reported that the FAS of the Russian Federation has  started a  new proceeding against the mobile operator Tele2. The company was suspected of an unjustified increase in tariffs for services for more than 12 million customers from January 1, 2021.