Uber To Merge With Russia's Yandex
After China, cab aggregator Uber has called it quits in the Russian market, as well. The usually "aggressive" American ride-hailing firm is going to merge its business with its competitor not only in Russia but also 5 other countries in the region. The rivals will merge to form a new, yet-to-be-named $3.7bn company. Yandex.Taxi’s current CEO Tigran Khudaverdyan will take over control of the new company.