2019-06-26 09:25:30date was

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  • Uber About to Buy Careem For Billions Of Dollars


    Ride-hailing app Uber is set to announce a $3.1 billion deal to acquire its Dubai-based rival Careem this week. Following in the footsteps of Amazon.com Inc.’s acquisition of Dubai-based online retailer Souq.com for $580 million in 2017.


    Shareholders in Careem such as Saudi Prince Alwaleed bin Talal’s investment firm and Japanese e-commerce company Rakuten Inc., are set to make a final decision today, Monday 25th, so that the deal could be announced as soon as Tuesday.

    Making such a daring move, US-based Uber eliminates any sort of major-league competition in the Middle East.


    By Dina Khafagy