The Federal Antimonopoly Service of Russia has approved the merger of Uber and Yandex Taxi after a review of the transaction, subject to conditions.
Both Uber and Yandex Taxi operate smartphone applications (or “aggregators”) that “match” riders with drivers looking to provide transportation services. Given the two-sided nature of the industry, the key question was the level of competitive constraints on both the rider and driver- side of the market and the potential for the transaction to generate synergies (e.g. in terms of reduced arrival times or increased driver utilisation) due to increased network density.
A CRA team consisting of Cristina Caffarra, Oliver Latham, Pierre Regibeau, Richard Havell, Alessandro Kadner-Graziano advised the parties during the proceedings.
For more details, please see the FAS press release here.