Prosus to cut ties with Russian classifieds business Avito

Prosus to cut ties with Russian classifieds business Avito

Moscow, Russia. Photo by Serge Kutuzov on Unsplash

Dutch technology investor Prosus NV said on Friday it would cut ties with its Russian online marketplace Avito, and would not seek to benefit economically from its ownership of the business.

Avito was one of Prosus‘s most valuable investments until Russia’s invasion of Ukraine on Feb. 24, with an estimated valuation of around $6 billion.

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