Uber Is in Advanced Talks to Buy Mideast Rival Careem - Bloomberg:
Uber Technologies Inc. is in advanced discussions to buy its Dubai-based rival Careem Networks FZ, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter.
The companies may announce a cash-and-shares transaction that values Careem at about $3 billion in the coming weeks, the people said, asking not to be identified because the talks are private.
Negotiations are ongoing and no final agreements have been reached, the people said. Representatives for the companies declined to comment.
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