The Capital
Published in

The Capital

Yandex Wants to Buy Back the Entire Share of Uber

Yandex is considering buying back Uber Technologies’ share in Yandex.Taxi instead of conducting an initial public offering (IPO) of this unit, Bloomberg sources familiar with the situation said.

According to two agency sources, Yandex wants to buy back the entire share of Uber, which is 38%. Uber previously estimated its stake in the joint venture at $1.24 billion. It is noted that the discussions are at an early stage and may not lead to a buyback, and Yandex may still return to the plans for an IPO taxi business in the future.

In October, Bloomberg, citing sources, reported that Yandex.Taxi was negotiating the appointment of Morgan Stanley and Goldman Sachs as IPO organizers.

According to the agency, MLU BV (the combined company Yandex. Taxi and Uber) is preparing for a double listing in Russia and the United States and discusses a wide range of potential valuations — from 5 to 8 billion dollars — depending on the final composition of the business, which will be launched on exchange, and investor demand.

Author: Marko Vidrih

Featured image credit: Unsplash

--

--

--

A publishing platform for professionals in business, finance, and tech

Recommended from Medium

Climate Change and the Next Industrial Revolution Call For a Creative Economy

Old Town Putt Owner Dana Snell Speaks On Business In Times Of COVID-19

Who Is Hiring During a Pandemic? 4 Industries to Consider

The Australian automotive industry to regain confidence post Covid-19

Are IPOs ripe for disruption? The Rise of the Direct Listing

Source-to-Pay: How to Master the Process — Part 1

Spotify and the Wild Playlist

The Industry Analyst Evaluation Game

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Marko Vidrih

Marko Vidrih

Most writers waste tremendous words to say nothing. I’m not one of them.

More from Medium

Now That Crypto had its Worst Week, Here’s Where Smart Money is Going

Why You Should Not Fear Recessions

Imagine Fixing Money for Humanity

Map of the world with cash spread around it

Risk is like the depressed girl at school with a machine gun