Russia’s second-largest internet company returns home

Russia’s second-biggest internet company is heading home. The technology giant VK has announced that it is moving its operations back to Russia from the British Virgin Islands. VK is the technology conglomerate behind Russia’s version of Facebook called VKontakte. VK runs the popular social media sites VKontakte and Odnoklassniki, which have over 100 million monthly users combined.

The company will now be primarily listed in Moscow and registered on Kaliningrad’s Oktyabrsky Island, one of two special tax zones set up to attract offshore companies back as well as international investment.