Uber in talks with Dubai's Careem to merge in Middle East: Bloomberg
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.
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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.)