Hyperdrive
Yandex-Uber JV in Talks With Morgan Stanley, Goldman for IPO
- Wide range of potential valuations discussed by Yandex
- Unit co-owned by Uber also includes foodtech, self-driving
Yandex.Taxi driverless vehicles take part in testing near Moscow, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russian search engine Yandex NV’s ride-hailing unit, part-owned by Uber Technologies Inc., is in talks to hire Morgan Stanley and Goldman Sachs Group Inc. to manage its initial public offering, according to a person familiar with the matter.
MLU BV, as the unit is legally known, is preparing for a dual-listing in Russia and the U.S., the person said, who asked not to be identified as the talks are confidential. Yandex first flagged in 2017 that it intends to list its taxi arm. Uber listed its group business in May, but has since suffered a 30% share price slide.