Shares of Yandex surged 17.5% on news of the agreement with Uber

Moscow. July 13. INTERFAX.RU – Shares of “Yandex” in the afternoon on Thursday jumped by 17.5% on news that the company signed an agreement with Uber about the merger of the businesses of online travel arrangements in Russia and in some countries, business is estimated at $3,725 billion.

On the “Moscow stock exchange” the stock price “Yandex” has grown to 1928,5 ruble (+17,5%) with a trading volume of more than 156 million rubles.

Under the agreement, Uber and “Yandex” will invest, respectively, $225 million and $100 million in the new company. Control (59,3%) on new business will be “Yandex”, another 36.6% of the Uber, and the remaining 4.1 percent are owned by employees of the two companies. Run the company the General Director “Yandex.Taxi” Tigran Khudaverdyan.