March 26 - 11:03
207D
Uber to buy rival Careem for $3.1 billion
Uber has agreed a deal to buy ride-hailing rival Careem for $3.1 billion. Uber will acquire all of Careem’s mobility, delivery, and payments businesses across the greater Middle East region, ranging from Morocco to Pakistan, with major markets including Egypt, Jordan, Pakistan, Saudi Arabia, and the United Arab Emirates. Under the terms of the deal, Careem will operate as a standalone brand.
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