The Uber logo is seen outside the company's headquarters in San Francisco, California, on May 8, 2019.
Russian IT giant Yandex has said it had reached a $1 billion deal to buy out ride-hailing service Uber from several joint ventures, squeezing the US company out of ex-Soviet markets. Under the deal, Yandex will buy Uber's stake in their shared food delivery operations and a business that develops self-driving vehicles, gaining 100 percent ownership.
Yandex will also increase to 71 percent its stake in transport ventures with Uber – including taxi and car-sharing services – with an option to purchase the remaining shares for up to $2 billion.Uber and Yandex had combined their ride-sharing businesses in Russia and neighbouring ex-Soviet countries in 2018.
Uber sold its shares in Russian food delivery business to Yandex for $1bln, reports Bloomberg. According to
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