Morgan Stanely reduces exposure to Yandex
Morgan Stanley, one of the biggest investors in Yandex, sold nearly 4 million shares in the Russian Internet company in December 2013.
The market value of these shares at current price is almost $160 million. Morgan Stanley currently owns 14,7 million shares.
Oppenheimer, the largest portfolio investor in Yandex, on the contrary, increased its involvement with the Russian company.
On January 31, 2014, the fund owned 25,4 million shares, while a month earlier it held 23 million shares.