To find out how to turn off your ad blocker, click here.
If this is your first time registering, check your inbox to learn more about the benefits of your Forbes account and what you can do next.
Having recently severed ties with Sberbank, Russian generation giant Yandex wants to get out of the Covid-1nine crisis in a state of greater independence and take full control of its ride-sharing business.
At a conference call last month, Greg Abovsky, Yandex’s official scoring leader and leading economic officer, said the apple seeking to buy Uber’s minority stake in Yandex’s taxi transportation and delivery division.
The move would give the Russian corporation much more powerful control over car-sharing activities in Russia and neighboring countries. It operates other countries in Eastern Europe and Central Asia.
Yandex lasts to own 61% of most taxi operations, while Uber owns 38%. The remaining 1% is maintained through the management of the company.
Abovsky said the appeal Yandex sought to own more corporations in which he had a position at stake.
“There is nothing imminent or procedural underway today. But I think we’re very curious about expanding this engagement and taking full control of this asset,” he said. “I think it’s about making scorridor able to agree on a position that generates a position for our shareholders.”
The company declined to comment on his plans for Yandex.Taxi and his relationship with Uber.
For Uber, such an agreement would mark a definitive exit for the apple from the Russian market position. After gaining the ideal share of the market position, Uber merged its Russian operations with Yandex in 2018 to shape the Yandex. As a result of the agreement, Uber retained a minority stake.
Yandex also operates food and grocery delivery services. These corporations are under the microscope blocking. Like its opposing numbers in Europe and the United States, Yandex underwent a food delivery design by the Covid-1nine pandemic.
In a new interview with Bloomberg, Yandex.Taxi director Daniil Shuleyko said that “the coronavirus has accelerated the transition of Russian consumers to online shopping.”
In another exaggerated tactic, the company’s apple had to respond to the crisis, deploying a separate fleet of cars for doctors to stumble upon Yandex patients. He has transported doctors to more than 300,000 medical appointments, according to an Apple spokesman.
The future acquisition of Uber and the evolution of the delivery market position, let alone its investments in self-driving cars, are only changes underway in one of Russia’s largest generation companies.
In June, Yandex severed ties with the state-controlled bank Sberbank, Russia’s largest bank. The two parties had participated in two joint ventures, e-commerce and payments.
At the end of business, Yandex will be completed with Yandex Market, an e-commerce market. Sberbank will be completed with the payment company Yandex Money, hoping that the bank will soon withdraw service under a new call.
I am a freelance journalist founded in Dublin and covering large apple spaces of the generation industry. I was a reporter at Fora and was a normal collaborator of
I am a freelance journalist founded in Dublin and covering large apple spaces of the generation industry. I was a journalist in Fora and was a normal collaborator of Tech.eu. My signature also gave the lok on BBC News, Vice and Mashable.