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10:00 PM IST
Ride-hailing company Uber Technologies Inc is in talks to buy Dubai-based rival Careem Networks FZ for about $2 billion to $2.5 billion, Bloomberg reported https://www.bloomberg.com/news/articles/2018-09-17/uber-is-said-in-talks... on Monday, citing people familiar with the matter.
No final decisions have been made, and the companies may decide against the transaction, Bloomberg reported.
Uber and Careem held preliminary talks in July to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry in the region, Bloomberg had previously reported.
Both Careem and Uber did not immediately respond to a request for comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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