Uber in merger talks with Careem says report
DUBAI, July 5, 2018
Uber Technologies is in preliminary talks with its Middle East rival Careem to combine their regional ride-hailing services, Bloomberg has reported.
The companies have discussed several potential deal structures and under one of them, Careem’s current leaders would manage the new combined business while retaining one or both of the companies' local brands, and another proposal would be Uber acquiring the Middle East ride-hailing app, the report added citing three people familiar with the matter.
Careem did not confirm or deny the report when contacted by Reuters. Uber did not immediately respond to requests for comment, Reuters said.
