Gett believes that the Union of “Yandex.Taxi” by Uber and can lead to higher prices

Gett believes that the Union of “Yandex.Taxi” by Uber and can lead to higher prices

TASS, July 14. Founder and CEO (chief Executive officer) Gett Dave weißer believes that business combinations “Yandex.Taxi” by Uber and can lead to higher prices for the services of online taxi. He said this on his page in Facebook.

“The expected end of a price war between “Yandex” and Uber will probably lead to higher prices and return to more stable margins,” wrote weißer. He noted that Russia accounts for approximately 25% of the business Gett, therefore, “high multiples of the rating of Russian business – good news for companies and investors”.

“Yandex” and Uber on 13 July announced that will unite businesses online traffic in Russia and five more countries – Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. Players appreciate a share of the joint company in the Russian market of passenger transportation in the cities of presence of 5-6%. It is expected that the transaction will be closed in the IV quarter of 2017.

Uber will invest in joint venture of $225 million, “Yandex” – $100 million Expected at the time of closing of 59.3% of the company will belong to “Yandex”, 36,6% – Uber, and 4.1% of employees.

The deal on the establishment of a new company has been approved by the boards of Directors of Uber and “Yandex”, however requires approval from regulators. The head of the Federal Antimonopoly service Igor Artemyev has said that the deal could pose a threat to competition in the market for online taxi aggregators.

The Application “Yandex.Taxi” Uber after the closing of the transaction for users will remain separate. At the same time, the taxis and the drivers will switch to a single technology platform. While Uber does not plan to change the tariff policy.

Plans for the drones

“Yandex” and Uber also plan to continue work on the unmanned vehicle technology. Chapter Gett believes that the issue of drones there are two approaches: Gett partnership with car manufacturer Volkswagen Group, and its own production (the way that was chosen by “Yandex”). What is the direction correct, only time will tell, says the morning.