Uber and Yandex To Share the Road in Russian Federation

A Yandex taxi in Kiev Ukraine. The company has signed a deal with Uber. Gleb Garanich  Reuters

A Yandex taxi in Kiev Ukraine. The company has signed a deal with Uber. Gleb Garanich Reuters

10/12/2015 - Yandex N.V. was upgraded to " by analysts at Raiffeisen. "It's a good deal".

The San Francisco-based company exited from China previous year, signalling another retreat in its breakneck expansion across the globe. Deutsche Bank AG's price objective suggests a potential upside of 19.87% from the company's current price.

Uber said its investment is $225 million dollars and its 36.6 percent stake will be worth nearly $1.4 billion.

The merger applies to ex-Soviet Russia, Azerbaijan, Belarus and Kazakhstan, and will also cover Armenia and Georgia, where Uber does not now operate-in total covering 127 cities, he said.

The Yandex.Taxi chief executive Tigran Khudaverdyan will become the chief executive of the combined business and Yandex will consolidate the new company's results in its financial statements. Yandex will hold four board seats, with Uber holding three, they said.

More notable recent Yandex NV (NASDAQ:YNDX) news were published by: Zacks.com which released: "Yandex (YNDX) Shows Strength: Stock Moves 15.3% Higher July 14, 2017" on July 14, 2017, also Bloomberg.com with their article: "Uber Cedes Russia to Yandex With $3.7 Billion Merger Agreement" published on July 13, 2017, Nasdaq.com published: "BUZZ-US STOCKS ON THE MOVE-Yandex, AstraZeneca, Target, Teva, Delta Air Lines" on July 13, 2017. The Company's search engine offers access to a range of information available online. That kind of deal making could allow the company to direct its resources toward costly and ambitious goals, such as building an autonomous fleet of on demand cars, rather than subsidizing price cuts against a stronger competitor, he said.

Below is an email sent today to Uber employees from Pierre-Dimitri Gore-Coty, head of Uber's business in Europe, the Middle East and Africa.

The company's valuation is expected to be around $3.73 billion, both parties confirmed late on Thursday. Uber will also contribute its UberEATS business in the region to NewCo. He said, "This deal is a testament to our exceptional growth in the region and helps Uber continue to build a sustainable global business".

In Internet Information Providers Industry, Yandex N.V. (YNDX) have 319.75 million outstanding shares now held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

However, all eyes are now on Uber's business in India, its single largest market outside US.

U.S. based company, Northern Trust Corporation (NTRS)'s latest closing price was 14.93% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 6.66% and 2.15% compared with the 20 Day Moving Average. Szpunar dismissed Uber's argument that it is only a technology company and said it should be regulated as a transport company, the Guardian reports. Yandex is the bigger company, with roughly the twice the business Uber now has in the region.

As of June, Yandex.Taxi had an annual run rate of 285 million rides and gross bookings of $1.01bn, while Uber had 134 million rides and $566m in bookings, the companies said.

Yandex and Uber compete in Russian Federation with rivals including Fasten-owned Rutaxi and Saturn, Maxim and Gett, the Israeli startup backed by German automaker Volkswagen.

"For example, a user of Yandex.Taxi could order an UberX directly from their Yandex.Taxi app upon arriving in London or Bangkok".

Today I'm excited to announce we are taking the next step in our mission to ensure everyone in these countries can get a reliable ride at the touch of a button.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.