Russia's VK not looking to sell gaming unit

VK

31/03/2022 09:39

March 31 (Reuters) - Russian internet group VK  VKCOq.L  on
Thursday denied that it was considering the sale of its gaming
unit.
    The Kommersant newspaper reported that the company, whose
chief executive Vladimir Kiriyenko was sanctioned by the United
States, was exploring the sale of MY.Games.  urn:newsml:reuters.com:*:nL2N2VY0B3
    "VK is not looking to sell MY.Games," the company said in a
statement.
    The deal could involve VK transferring licences for the sale
of games but keeping development in Russia, which would allow it
to retain revenue and access to Western technologies which has
been hampered by sanctions, Kommersant said.
    VK, which also runs email provider mail.ru and has
operations in education technology, generates a third of its
revenue from the gaming unit.
    

 (Reporting by Reuters; editing by Jason Neely)