“FAS in the next two weeks will give a decision on the transaction “Yandex.Taxi” and Uber

The Federal Antimonopoly service (FAS) intends in the nearest two weeks to make a decision concerning the merger “Yandex.Taxi sector”, said Deputy Minister Anatoly Golomolzin.

“A couple of weeks, maybe the decision will be made,” he said.

In the past July, “Yandex” has announced the creation, together with the Uber company, which will unite the business of online travel arrangements in Russia and some neighbouring countries. Joint business of the parties valued at $3,725 billion.

Under the deal, Uber and “Yandex” will invest, respectively, $225 million and $100 million in the new company. Control (59,3%) on new business will be “Yandex”, another 36.6% of the Uber, and the remaining 4.1 percent are owned by employees of the two companies. Run the company the General Director “Yandex.Taxi” Tigran Khudaverdyan.

“Yandex” and Uber is expected that the transaction will be closed in the fourth quarter. It has been approved by the boards of Directors of Uber and “Yandex”.

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