05:01 am
Uber Technologies is in preliminary talks with rival Careem to combine their Middle Eastern ride-hailing services, Bloomberg reported on Tuesday, citing three people familiar with the matter.
The companies have discussed several potential deal structures and under one of them, Careem`s current leaders would manage the new combined business while retaining one or both of the companies` local brands, and another proposal would be Uber acquiring the Middle East ride-hailing app, the report added. (https://bloom.bg/2KMmXpI)
In discussions with Careem, Uber has said that it would need to own more than half of the combined company, if not buy Careem outright, according to the report.
Uber and Careem did not immediately respond to requests for comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.