The Federal Antimonopoly service of the Russian Federation approved the merger of the services of online order of trips of the Russian Yandex and Uber, Reuters reports.
The FAS reported the approval of the transaction by issuing regulations, which States that companies will have to provide “the most complete and available to inform users about the legal entity of transport history trips.”
A new company was obliged not to prohibit partners, drivers and passengers to work with other aggregators of taxi services.
Uber and Yandex agreed to invest respectively $225 million and $100 million in the new company, evaluating it at $3.7 billion.
After closing both applications for booking trips and Yandex.Taxi and Uber will continue to be available to users, and the taxis and the drivers will switch to a single technology platform.
The transaction to combine the businesses Yandex.Taxi and Uber in Russia and some neighbouring countries Yandex will become the co-owner of global business Uber.
See also: Uber: Our main competitor is the private car
13 Jul 2017 Uber and Yandex has announced that they have agreed to merge their businesses in online travel arrangements in Russia, Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan in the new company. It was separately agreed that the Uber business in Ukraine will not become part of the deal, Uber and Yandex.
Read also – the General Director of Yandex.Taxi: All services Yandex not about politics