Uber is Selling $1 Billion worth of Stakes in Several Russian Businesses

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“The consolidation of these businesses puts us in a great position to further increase strategic management flexibility, while creating new substantial growth potential for our businesses and cross-platform consumer benefits over the years to come, allowing us to unlock new sources of value for our shareholders.”

According to the same announcement, Yandex gets another 4.5% in MLU. Since the Covid-19 pandemic had hit the world, delivery businesses have seen a huge increase in earnings as lockdowns forced people to order from home avoiding any physical stores.

Meanwhile, Yandex has had $3 billion at the end of the 2nd quarter. The company is expanding its online streaming and shopping businesses. The Russian giant also bought a small bank earlier this year as a part of its efforts to expand its financial services.