Uber In Talks To Merge With Careem In Middle East
Uber Technologies is in preliminary talks with the Middle East cab service company Careem Networks for the purpose of combining their ride-hailing services in the Middle East.
Both the cab companies have discussed various considerable deal structures but have still not come to an agreement. According to the reports, current leaders of Careem would be managing the newly combined business, as well as retaining one or both of the companies' local brands.
Another proposal that has been reported is that the Uber will be acquiring the Middle-East ride-hailing mobile application. If not acquiring Careem wholly, Uber stated that it would need to own more than half of the combined company. To this, Careem has yet not declined or accepted any comments.
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