Latest in Gear

Image credit:

Uber gets the go-ahead for its Russian merger

It's Uber's second withdrawal from direct competition in a whole country.
Jon Fingas, @jonfingas
November 25, 2017
Share
Tweet
Share

Sponsored Links

Vyacheslav Prokofyev/TASS via Getty Images

Uber's merger with Yandex's taxi service is effectively a done deal. Russian antitrust regulators have approved the union between the two ride-hailing companies, clearing the way for its expected completion in January 2018. The deal gives Yandex majority control (59.3 percent), but prevents the newly united companies from blocking drivers, partners or passengers from getting involved with rival services.

When the merger does finalize, Uber and Yandex will be interchangeable: either company's app will let you book rides, and drivers can accept either service's ride requests.

The alliance represents Uber's second withdrawal from direct competition in as many years, following its Chinese division's merger with Didi Chuxing in 2016. And in both cases, there were similar reasons to bow out: Uber struggled against both an incumbent and its own troubles (whether finances, regulation or protests) in the area. A merger with the local heavyweight lifts some of that burden for Uber while maintaining a stake it wouldn't have if it exited the market.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

The 2020 Engadget Holiday Gift Guide

The 2020 Engadget Holiday Gift Guide

View
SpaceX prepares Starship SN8 prototype for high-altitude test flight

SpaceX prepares Starship SN8 prototype for high-altitude test flight

View
Curiosity rover finds evidence of ancient megafloods on Mars

Curiosity rover finds evidence of ancient megafloods on Mars

View
The Morning After: 'Flight Simulator' update adds high-res US landmarks

The Morning After: 'Flight Simulator' update adds high-res US landmarks

View
'Mortal Kombat 11' DLC brings back three actors from the 1995 movie

'Mortal Kombat 11' DLC brings back three actors from the 1995 movie

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr