Uber is Merging With its Russian Rival

Chicago Tribune – July 14, 2017

Uber’s ride-hailing service in Russia will merge with a much larger competitor, Yandex, the companies announced Thursday, in a deal valued at $3.7 billion. The Russian search giant, which also has a taxi business, will claim majority ownership, and Tigran Khudaverdyan, the chief executive of Yandex’s taxi operations, will lead the new company.

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