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July 01
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Dutch technology investor Prosus is looking for a buyer for its Russian online platform Avito.

Avito was one of Prosus' most valuable investments and was valued at around $6 billion.

In March, Prosus said it would sever ties with Avito, which it said could operate independently under local management and would not seek economic value from its ownership.

As sanctions were imposed on Russia, Prosus initially decided to continue running Avito, noting that it was responsible for the company's 4,000 employees. This decision was criticized after it was revealed that Avito posted announcements about the vacancies of the Russian military.

The company then said it would separate Avito from its online business, part of the larger OLX Group, but did not specify what would happen after the split.

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