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Uber To Merge With Russia's Yandex

Uber To Merge With Russia's Yandex

After China, cab aggregator Uber has called it quits in the Russian market, as well. The usually "aggressive" American ride-hailing firm is going to merge its business with its competitor not only in Russia but also 5 other countries in the region. The rivals will merge to form a new, yet-to-be-named $3.7bn company. Yandex.Taxi’s current CEO Tigran Khudaverdyan will take over control of the new company.

read more at Business Standard

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