Uber to exit Russia after $3.7-billion merger with Yandex
Uber has announced it will merge its Russian ride-hailing business with internet giant Yandex and end Russian operations in a $3.7 billion deal. Yandex is investing $100 million in the new company for 59.3% stake, while Uber will invest $225 million for 36.6% stake. This marks Uber's second major global retreat after it sold its China operations last year.