Russia’s anti-monopoly regulator said that Uber and Yanders can team up and merge their ride-hailing business in the country.
The two companies revealed its merging plans in July to combine operations in 127 cities in Russia, Azerbaijan, Georgia, Kazakhstan, Armenia, and Belarus.
“San Francisco-based Uber has agreed to invest $225 million while Yandex will contribute $100 million to a new joint company in which Yandex will own 59.3 percent,” Business Insider wrote.
“The two companies must allow their partners, drivers, and passengers to work for or use competitors’ services and fully inform users of the legal entity providing the service,” the FAS said in a statement.
People can use both the apps and the driver app will be upgraded providing you higher service reliability, shorter passenger wait times, and increased driver utilization rates.
The joint agreement is expected to be closed in January 2018.