Yandex (YNDX) Expands Ownership in Uber JVs - Morgan Stanley
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Yandex (YNDX) Edges Higher After Taking More Control of JV with Uber (UBER) for $1 Billion, Deal Looks Like 'Good Value' Says Morgan Stanley
August 31, 2021 7:15 AM EDTShares of Yandex (NASDAQ: YNDX) are up over 1% in pre-open Tuesday after the company announced a deal with Uber (NASDAQ: UBER) to increase its stake in the Russian joint venture.
The restructuring of the joint venture will see YNDX own 71% while Ubers stake will go to 29% from 33.5%. In addition, the Russian company has a $1.8 billion call option to buy out the rest if it chooses to do so, a price that goes to $2 billion if exercised in September... More
