Experts assessed the chances of a merger of Whoosh and Yrent after the decision of the Federal Antimonopoly Service

On January 29, experts assessed the chances of a merger of the Whoosh and Yrent electric scooter rental services after a statement from the Federal Antimonopoly Service (FAS), which sees signs of limited competition in a possible deal and refused to approve it.

Possible negotiations had not previously been publicly reported, but a Whoosh representative confirmed to RBC that the company had submitted petitions to the Federal Antimonopoly Service and was considering the acquisition of Yrent as one of the strategic growth scenarios. According to him, no final decisions have been made yet, and the parties have not signed any binding documents. Yrent declined to comment.

It is specified that Whoosh, Yrent and Yandex Go are considered the largest market players. According to the Trushering project, in 2024 their combined share increased to 96.8%, and the market volume reached 31.1 billion rubles. Analysts predict that by 2027, the figure may increase to 53.6 billion rubles.

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Experts believe that the position of the FAS complicates a possible merger. Laura Kuznetsova, managing expert at PSB Bank, noted that Whoosh is going through a difficult period due to a decrease in the number of trips and deteriorating financial performance, and the lack of its own large ecosystem makes the company less stable, which increases the likelihood of M&A transactions. Polina Panina, an analyst at Euler Analytical Technologies, added that if combined, the share of companies could approach 80%, which inevitably attracted the attention of the regulator.

Denis Kungurov, editor-in-chief of PRO Sharing, believes that such a high concentration could negatively affect competition and strengthen the positions of ecosystem players. In his opinion, in order to maintain its market position, Whoosh is interested in access to large digital platforms comparable to the capabilities of MTS and Yandex.

The lawyers remind that the current procedure allows the FAS not only to refuse to approve transactions, but also to offer companies conditions to maintain competition, for example, obligations not to raise tariffs or develop infrastructure. According to Maria Merkulova, head of Delcredere's antimonopoly practice, the parties will be able to present their arguments or adjust the parameters of the transaction, and if necessary, try to resubmit it for approval.

Experts note that the final decision of the FAS will be key for further consolidation of the kicksharing market, which is already close to saturation and is entering a phase of struggle for regular users and business efficiency.

On January 28, the FAS expressed concerns about a possible merger of the Whoosh and Yuret kicksharing companies, noting that this could lead to limited competition in the scooter rental market. According to the agency, the merger of the companies will enable the new organization to solely control pricing policy, which can lead to negative consequences for customers.

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