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Uber to Accelerate Sale of Yandex Taxi Joint Venture (1)

Feb. 28, 2022, 9:35 PM

Uber Technologies Inc. is speeding up the sale of its stake in a taxi joint-venture with Russian internet search company Yandex NV.

The ride-hailing giant will also remove Uber executives from the board of Yandex.Taxi, it said in a statement Monday. San Francisco-based Uber, which doesn’t hold any shares of the publicly traded Yandex entity, has a 29% stake in the venture that was valued at about $800 million at the end of 2021.

In August, Yandex bought out Uber’s interest in several joint ventures including Yandex.Eats, Yandex.Lavka and Yandex.Delivery. The restructuring also whittled down Uber’s shares in MLU ...