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Russian Direct Investment Fund may invest in Yandex, Uber joint venture

February 09, 18:49 UTC+3

Yandex.Taxi and Uber closed the deal on consolidation of online taxi ordering business in Russia and neighboring states within a new company on February 7

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© Vyacheslav Prokofiev/TASS

MOSCOW, February 9. /TASS/. The Russian Direct Investment Fund (RDIF) plans to invest into the joint venture of Russia’s Yandex and US-based Uber in two-three coming weeks, Chief Executive Officer of the Russian sovereign fund Kirill Dmitriev said on Friday on the air with Rossiya 24 TV Channel.

"We will invest with our partners. We await completion of this deal in 2-3 coming weeks. We will invest several dozen millions of dollars and will hold a minority stake in the merged company at the same time," Dmitriev said.

Yandex.Taxi and Uber closed the deal on consolidation of online taxi ordering business in Russia and neighboring states within a new company on February 7. Yandex holds 59.3% in the merged company, Uber gets 36.9%, and company employees will hold the remaining 3.8%.

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