FILE PHOTO: An Uber logo is seen during the global outbreak of the coronavirus disease (COVID-19), in Redondo Beach, Los Angeles, California, U.S., November 2, 2020. REUTERS/Lucy Nicholson
MOSCOW (Reuters) -Russian internet giant Yandex said on Tuesday it would buy Uber's stakes in their joint foodtech, delivery and self-driving businesses, and increase its stake in their ride-hailing joint venture as part of a $1 billion deal.
The restructuring of the MLU ride-hailing and car sharing joint venture, which includes Yandex.Taxi, will see Yandex own 71% while Uber's stake falls to 29% from 33.5%, Yandex said, adding it had taken out a $2 billion call option to buy out the rest if it chooses to do so.
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