Russia Expects Google to Stay in Country Despite Subsidiary Filing for Bankruptcy: Report

Seeking Alpha2022-06-16

A Russian government official said that he expects Google (NASDAQ:GOOG) (NASDAQ:GOOGL) to remain in the country, despite the fact its Russian subsidiary intends to file for bankruptcy.Anton Gorelkin, ...

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Comments

Birdydu
2022-06-17
Birdydu
Yes
KLS
2022-06-16
KLS
Buy
TeslaTTM
2022-06-16
TeslaTTM
World Peace pls
Dhalsim Wee
2022-06-16
Dhalsim Wee
like thanks
sunshine138
2022-06-16
sunshine138
Ok

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3849244-russia-expects-google-to-stay-in-country-despite-subsidiary-filing-for-bankruptcy-report><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A Russian government official said that he expects Google (NASDAQ:GOOG) (NASDAQ:GOOGL) to remain in the country, despite the fact its Russian subsidiary intends to file for bankruptcy.Anton Gorelkin, ...</p>\n\n<a href=\"https://seekingalpha.com/news/3849244-russia-expects-google-to-stay-in-country-despite-subsidiary-filing-for-bankruptcy-report\">Source 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(NASDAQ:GOOG) (NASDAQ:GOOGL) to remain in the country, despite the fact its Russian subsidiary intends to file for bankruptcy.Anton Gorelkin, the deputy head of the State Dumacommittee on information policy made the comments on Thursday, according toReuters, which first reported the news.In addition to expecting Google to stay in the country, Gorelkin added that Moscow did not intend to block its video-sharing site, YouTube.Alphabet (GOOG) (GOOGL) shares fell nearly 2% to $2,164.18 in premarket trading on Thursday.Gorelkin's comments are the latest in the ongoing saga between Russian government and the tech giant.In March, Russia's Foreign Ministry said Google (GOOG) (GOOGL) and Meta Platforms (META)needed to be held accountable for \"inciting war.\" That month, the company paused advertising on websites, apps or YouTube channels that exploited, dismissed or allowed Russia's invasion of Ukraine.Shortly after Russia's invasion of Ukraine, Russian regulator Roskomnadzorwarnedthe video-sharing site to stop running \"anti-Russian\" ads and \"spreading threats\" against its citizens.In May, Google (GOOG) (GOOGL)pulled nearly all of its employees out of Russia, citing the war in Ukraine, a move that effectively put an end to the Alphabet (GOOG) subsidiary's business in the country for the foreseeable future.Separately that month, a company spokesperson said that Google's Russian subsidiary intended to file bankruptcy after Russian officials took control of its bank account.\"The Russian authorities seizure of Google Russia's bank account has made it untenable for our Russia office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations,\" the spokesperson told Reuters, adding that, \"Google Russia has published a notice of its intention to file for bankruptcy.\"And late last year, Russia fined Google (GOOG) (GOOGL) a 7.2 billion ruble charge for failing to delete illegal content.It was reported earlier this week that Google parent Alphabet (GOOG) (GOOGL) would let advertising rivals place ads on YouTube -a concession that offers a path to settle an EU antitrust investigation without a 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