FILE PHOTO: An employee shows the logo of ride-hailing company Careem on his mobile in his office in the West Bank city of Ramallah July 17, 2017. REUTERS/Mohamad Torokman/File Photo
Uber Technologies Inc is in discussions to buy its Dubai-based rival Careem Networks FZ as the ride-hailing giant expands in the Middle East, people familiar with the matter said.
A deal could value Careem at US$2bil (RM8.29bil) to US$2.5bil (RM10.36bil), the people said, asking not to be identified because the talks are private. Negotiations are ongoing and Careem’s management is working to convince the firm’s shareholders of the merits of a deal, the people said. No final decisions have been made, and the companies may decide against the transaction, they said.
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