Google's subsidiary in Russia files for bankruptcy

Company says unable to fulfill financial obligations

By Emre Gurkan Abay

MOSCOW (AA) – Google’s subsidiary in Russia has filed for bankruptcy, saying it cannot meet its financial obligations.

An announcement on Russia's official registry Fedresurs on Wednesday said the company has started the process to declare bankruptcy.

The company could not fulfill its financial obligations as of March 22, the statement read.

The company was required to pay a fine of 7.2 billion rubles ($111.7 million) over lawsuits filed by Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor).

* Writing by Gokhan Ergocun in Istanbul

Kaynak:

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