Yandex N.V.'s (NasdaqGS:YNDX) Dutch holding company is considering selling all its Russian assets at once, rather than just a controlling stake, three people close to the matter told Reuters, as the parties race to finalise a deal before the end of the year. Often referred to as "Russia's Google", tech firm Yandex was one of the few Russian companies with the potential to become a global business until Moscow started its war with Ukraine in February 2022. With a Dubai board meeting scheduled in late November, the parties involved are hoping to reach an agreement in December, the people said.

Any deal ultimately requires approval from shareholders and Russia's government. Yandex declined to comment and the people could not be named because the matters are not yet public. Yandex NV may sell 100% of a holding company set up in Russia's Kaliningrad region, said one of the people.

Another said Yandex NV's complete exit was quite likely, though not decided.