--Sberbank Rossia and the owner of Russia's largest social media network Mail.ru plan to break up their $1.6 billion joint venture after disagreeing over the strategy against a profitable competitor from their main rival, Yandex, the Financial Times reports, citing unnamed sources.

--Sberbank Rossia, which aims to turn itself into a tech company, has sought permission from the Kremlin along with Mail.ru to split the assets of the joint venture, according to the FT reports.

Full story: https://on.ft.com/3cwEgrY

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(END) Dow Jones Newswires

03-30-21 0205ET