Fund of Yandex managers will be transformed

Fund managers, which became a co-owner of "Yandex", in about 4 years will be transformed, a source told RBC. Instead of the fund, the interests of top employees will be represented through a new structure - FMP, which will own a block of shares for a fixed and irreducible amount. In the number of shareholders to join up to 50 key employees. New structure will allow long-term preservation of the interests of the company's employees at the shareholder level. Employees will not be able to sell their stake to an outside investor.