Uber looks to speed up sale of its stake in Russian ride-hailing app Yandex

Stefan Mileschin · 1st March 2022, 05:40

Uber hopes to accelerate a planned sale of its remaining holdings in Yandex.Taxi, the Russian-owned ride-hailing platform, reportedThe New York Times. Uber owns a 29% stake in the service, which was roughly equivalent to $800 million at the end of 2021. While speeding up the sale is directly in response to Russia’s invasion of Ukraine, Uber has been looking to exit the Russian market for a while. Last year Uber announced it would sell its stake of Yandex’s autonomous vehicle and food delivery divisions back to the Russian internet company for a total of $1 billion. In the wake of Monday’s decision, three Uber executives resigned from the board of Yandex.Taxi.

https://www.engadget.com/uber-looks-...1.html?src=rss

1st March 2022, 05:40	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	Uber looks to speed up sale of its stake in Russian ride-hailing app Yandex Uber hopes to accelerate a planned sale of its remaining holdings in Yandex.Taxi, the Russian-owned ride-hailing platform, reportedThe New York Times. Uber owns a 29% stake in the service, which was roughly equivalent to $800 million at the end of 2021. While speeding up the sale is directly in response to Russia’s invasion of Ukraine, Uber has been looking to exit the Russian market for a while. Last year Uber announced it would sell its stake of Yandex’s autonomous vehicle and food delivery divisions back to the Russian internet company for a total of $1 billion. In the wake of Monday’s decision, three Uber executives resigned from the board of Yandex.Taxi. https://www.engadget.com/uber-looks-...1.html?src=rss

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