Yandex-Uber JV in talks with Morgan Stanley, Goldman for IPO

Signs for the Yandex.Taxi online booking service sit on taxi cabs operated by the Nexi taxi service, a unit of ASAP Transportation Co., in a parking bay in Moscow, Russia. Photographer: Andrey Rudakov/Bloomberg

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.

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