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Uber to Accelerate Sale of Yandex Taxi Joint Venture

  • The three Uber executives on board of venture have resigned
  • Uber paused operations in Ukraine after Russian attacks
Automobiles operated by Yandex.Taxi service parked in Moscow.

Automobiles operated by Yandex.Taxi service parked in Moscow.

Photographer: Andrey Rudakov/Bloomberg
Updated on

Uber Technologies Inc. is speeding up the sale of its stake in a taxi joint-venture with Russian internet search company Yandex NV.

The ride-hailing giant will also remove Uber executives from the board of Yandex.Taxi, it said in a statement Monday. San Francisco-based Uber, which doesn’t hold any shares of the publicly traded Yandex entity, has a 29% stake in the venture that was valued at about $800 million at the end of 2021.