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Russian officials and Google have reached an agreement to settle a two-year-old case against Google for requiring the pre-installation of some of its apps on mobile devices using the Android system. The agreement was announced today by Alexei Dostenko, deputy head of Russia's Federal Anti-Monopoly Service, according to Russian news reports. Under the settlement, Google is to pay 439 million rubles (USD 7.8 million) in fines and will not limit the pre- installation of third-party apps, the reports said. The case was brought to the FAS in 2015 by Yandex, which is Russia's dominant search engine and offers various apps including a popular one for ordering taxis.
Yandex's shares surged 6 per cent on the Moscow stock exchange after the settlement was announced.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)