Posted inChina, Russia, World

Uber retreats in Russia

US ride-sharing giant is relinquishing majority stake in its Russia business, with a deal that will create a new venture with Russia’s Yandex NV, reports Bloomberg. The move follows Uber’s ceding of its China operations to Didi Chuxing last year. Under the deal, Uber will invest US$225 million to take a 36.6% stake in the […]