MOSCOW, November 24 (RAPSI) – Russia’s Federal Antimonopoly Service (FAS) has approved a deal on the merger of businesses run by Yandex.Taxi and Uber, which agreed on the creation of a joint venture, the agency says on its website on Friday.

At the same time, FAS instructed the companies to ensure that users received maximally full and accessible information about the new venture, which is obliged to keep the records of all rides and refrain from prohibiting partners, drivers, and passengers to cooperate with other taxi services aggregators.

According to Anatoly Golomolzin, FAS Deputy Head, at present a trend towards consolidation and growing role of incumbent participants is observed on the market. However, Golomolzin said, the agency is fully aware that intensification of competition on this market should be supported from the start and a level playing field be ensured. As he noted, similar measures as demanded by FAS from Yandex and Uber should be taken by all market participants to achieve efficient development of the market under conditions of fair competition and to ensure protection of rights and safety of passengers.