Yandex says Yandex.Taxi, Uber to close deal on merger by mid-Feb - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Yandex says Yandex.Taxi, Uber to close deal on merger by mid-Feb

MOSCOW, Jan 31 (PRIME) -- Online taxi hailing services Yandex.Taxi and Uber plan to close a deal to merge their businesses in Russia and a number of CIS countries by the middle of February, Internet giant Yandex, a parent company of Yandex.Taxi, said on Wednesday in a statement.

УThe parties are currently finalizing preparations for closing, and now anticipate that the combination will complete in the first half of February 2018,Ф Yandex said.

Yandex and Uber announced in July 2017 the intention to combine their ride-sharing businesses in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, and Russia. In late 2017 the companies received all necessary regulatory approvals.

After the closing, consumers will be able to use both Yandex.Taxi and Uber apps, while the driver-side apps will be integrated. Uber will also contribute its UberEATS business in the region to the combined company.

According to earlier reports, Yandex will own 59.3% in the merged company, Uber 36.6%, and 4.1% will be held by employees of the unit. Uber invests U.S. $225 million into the project and Yandex contributes $100 million.

End

31.01.2018 11:30
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 76.0737 -0.0189 14 nov
USD 67.6812 +0.1574 14 nov
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1100.05 -1.32 18:50 13 nov
micex 2374.94 -0.79 18:50 13 nov
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 148.83 -1.37 18:49 13 nov
lkoh 4959.50 -3.30 18:49 13 nov
rosn 443.60 -4.29 18:49 13 nov
sber 196.56 -0.13 18:49 13 nov
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 76.2025 -0.0525 14:59 13 nov
USDTD 67.6950 +0.2650 17:44 13 nov