Deals
Uber Is in Talks With Careem to Merge in Middle East
- Uber seeks majority stake in Middle Eastern rival, sources say
- Careem is raising money at a reported $1.5 billion valuation
This article is for subscribers only.
Uber Technologies Inc. and Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry as Uber prepares for a public offering next year, according to three people familiar with the matter.
The companies have discussed a number of potential deal structures, but they haven’t come to an agreement on the contours, according to the people, who asked not to be identified because the talks are private.