Russia’s VK denies considering sale of gaming unit

Russian internet group VK on Thursday denied that it was considering the sale of its gaming unit.

The Kommersant newspaper reported that the company, whose chief executive Vladimir Kiriyenko was sanctioned by the United States, was exploring the sale of MY.Games.

“VK is not looking to sell MY.Games,” the company said in a statement.

The deal could involve VK transferring licences for the sale of games but keeping development in Russia, which would allow it to retain revenue and access to Western technologies which has been hampered by sanctions, Kommersant said.

VK, which also runs email provider mail.ru and has operations in education technology, generates a third of its revenue from the gaming unit. Nasdaq