Uber looks to speed up sale of its stake in Russian ride-hailing app Yandex
Uber hopes to accelerate a planned sale of its remaining holdings in Yandex.Taxi, the Russian-owned ride-hailing platform,. Uber owns a 29% stake in the service, which was roughly equivalent to $800 million at the end of 2021. While speeding up the sale is directly in response to Russia’s invasion of Ukraine, Uber has been looking to exit the Russian market for a while.
“In light of recent events, we are actively looking for opportunities to accelerate the sale of our remaining holdings and, in the meantime, will remove our executives from the board of the joint venture,” Uber said in a statement to the
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