Why Uber is merging with its Russian rival

After selling its Chinese business in August last year, Uber has now yielded its clout abroad again ó this time to merge its Russian business with the taxi arm of Russian search engine giant Yandex. The new company will be worth $3.725 billion, both companies have announced, and span 127 cities in 6 countries (Russia, Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan). As part of the deal, Yandex will invest $100 million and hold a majority stake of 59.3 percent, while Uber will invest $225 million and hold a stake of 36.6 percent. The remaining shares are held by company employees. Full-time Uber employees in the countries involved will join the new company. A name for the new company has not yet been announced. More than 35... Continue reading…

Why Uber is merging with its Russian rival

The new ride-hailing venture is valued at $3.7 billion and will operate in Russia and five neighboring countries.

Thu 13 Jul 17 from The Washington Post

Uber cedes control in Russian market with Yandex tie-up

Uber is ceding control of the Russian market by agreeing to merge its ridesharing business in the country and five other ex-Soviet republics with Yandex, the Russian search-engine leader that ...

Thu 13 Jul 17 from Phys.org

Uber cedes control in Russian market with Yandex tie-up, Thu 13 Jul 17 from AP

Uber cedes control in Russian market with Yandex tie-up, Thu 13 Jul 17 from AP

Uber and Yandex merge their ride-sharing services in Russia

Uber has announced plans to merge with Yandex, the so-called Google of Russia, to launch a new standalone ride-sharing company to target Russia, Kazakhstan, Azerbaijan, Armenia, Belarus, and ...

Thu 13 Jul 17 from Techspot

Uber accepts minority role, merges with Russian ride-sharing company

Uber will own 37% of the combined entity, which will operate in 127 cities.

Thu 13 Jul 17 from Arstechnica

Uberís answer to ride-sharing in Russia is a merger

Uber and Yandex, the 'Google of Russia', have agreed to combine their Russian ride-sharing businesses. The move further heralds the slowdown of Uber's global expansion, ...

Thu 13 Jul 17 from Engadget

Uber combines with Russian ride-hailing service Yandex.Taxi - CNET

After a three-year run in Russia, Uber's future in the country lies with Russian company Yandex.

Thu 13 Jul 17 from CNET

Uber to merge business in Russia with Yandex

The Russian ride-hailing service will own a majority stake in the new company.        

Thu 13 Jul 17 from USA today

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