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Russia Anti-Monopoly Service Blocks Google on Rambler

By Andrew Redfern @ 24th October 2008 5:18 pm

Google has been blocked by the Russian Anti-Monopoly Commision on its purchase of leading Russian Search Engine.

The press release on the search engine’s website commented “Rambler Media, operating one of Russia’s most popular internet brands, notes that the Russian Federal Anti-Monopoly Service (FAS) has today issued a statement in which it refuses Google’s application to acquire 100% of Rambler’s contextual advertising company ZAO Begun (“Begun”).

Rambler continues to own 50.1% of Begun until further notice. The Company will provide a third quarter trading update in early November.

Rambler Media is an internet media and services group which operates or has interests in leading Russian language internet brands including the original Russian internet homepage and search engine ‘Rambler.ru’, on-line newspaper ‘Lenta.ru’, product comparison website ‘Price.ru’, internet catalogue and navigation system ‘Top 100′, instant messaging service ‘Rambler-ICQ’, digital advertising agency ‘Index20′ and contextual advertising company ‘Begun’.

Rambler Media’s shares are traded on AIM, the junior market of the London Stock Exchange under the symbol ‘RMG’. For more information on Rambler Media, visit our corporate website at ww.ramblermedia.com.”

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