The Federal Antimonopoly service (FAS) of Russia, believes that the deal between “Yandex” and Uber will not create anticompetitive conditions in the market of taxi services.
Image Of “Yandex”
In July of this year, we will remind, Yandex and Uber signed an agreement about unification of the businesses of online travel arrangements in Russia and also in Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan in the new company. It will use technology and knowledge of “Yandex” in the field of mapping and navigation services and search engines and global experience Uber in the sphere of online services for ordering transportation.
The FAS believe that the agreement will not lead to monopolization of the taxi market. “We are positive on the deal. Given that more than 10 companies working in this market, not going to happen monopolize the market with this merger, we see that. But since it is connected with digital technology, may be issued an order“—leads TASS statement of the head of Department Igor Artemyev.
It should be noted that after closing both applications for booking trips and “Yandex.Taxi”, and Uber continues to be available to users. At the same time, the taxis and the drivers will switch to a single technology platform.
Under the agreement, Uber and “Yandex” will invest 225 million, respectively, and 100 million dollars in the new company, valuing it at 3,725 billion US dollars.
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