Yandex Provides Update on Timing of Closing of Yandex.Taxi and Uber Transaction
Summary
MOSCOW, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Yandex (NASDAQ: YNDX ) today provided an update on the timing of the proposed merger of Yandex.Taxi and the Uber ride-sharing businesses in Russia and neighboring countries.In July 2017 Yandex and Uber announced the intention to combine their ride-sharing businesses in Russia, Kazakhstan, Azerbaijan, Armenia, Belarus and Georgia.Yandex (NASDAQ: YNDX ) is a technology company that builds intelligent products and services powered by machine learning.Additionally, we have developed leading on-demand transportation services, navigation products, and other mobile applications for millions of consumers across the globe.Six years and more than five billion trips later, we’ve started tackling an even greater challenge: reducing congestion and pollution in our cities by getting more people into fewer cars.