November 21, 2019 / 2:12 PM / 7 months ago

Russia's Yandex.Taxi chooses 3 banks to arrange IPO -sources

MOSCOW, Nov 21 (Reuters) - Russia's largest online taxi service Yandex.Taxi has hired Morgan Stanley, Goldman Sachs and VTB Capital as the first three banks to prepare for an initial public offering (IPO), three banking sources told Reuters on Thursday.

Russian internet company Yandex and U.S. group Uber Technologies Inc combined their taxi businesses across Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan in 2017 to create an enlarged Yandex.Taxi.

Reporting by Olga Popova, Tatiana Voronova; additional reporting by Nadezhda Tsydenova; writing by Katya Golubkova and Polina Devitt; editing by Jason Neely

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