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Uber confirms plan to acquire Careem in $3.1 billion deal

2019-03-25 10:40:05 GMT (Economies.com)
 

Global ride-hailing company Uber confirmed its plan to take over its regional rival, Dubai-based Careem, in a deal worth $3.1 billion (around AED 11.4 billion), which would be the biggest deal of its kind in the Middle East.

 

Talal bin Ibrahim Al Mayman, CEO of Kingdom Holding said earlier his company was backing the possible merger between Uber and Careem.

 

Sources said last July Uber was holding initial talks with its regional rival to merge their car-sharing services in the Middle East.

 

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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