Deals
Uber Is in Advanced Talks to Buy Mideast Rival Careem
- Dubai-based Careem may be valued at about $3 billion in a sale
- Companies may be ready to announce a deal in the coming weeks
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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.