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Uber stages retreat in Russia as it hands control to rival Yandex13 Jul 7:02am

Uber stages retreat in Russia as it hands control to rival Yandex

The Guardian
Ride-hailing company makes second embarrassing climbdown after selling its Chinese operations last year Uber is scaling back in Russia by spinning off its operations in the country to form a new company majority-owned by local rival Yandex. The deal will see Uber’s ride-hailing and food-delivery services in Russia, as well as Azerbaijan, Belarus and Kazakhstan, folded into the new firm, along with Yandex’s own taxi app, which also operates in Armenia and Georgia. Both brands will continue to operate, but the driver-side apps will be merged into one, the company said
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