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Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East

Reuters Tuesday, 26 March 2019 ()
Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering.
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News video: Uber buys Middle East rival Careem for $3.1bln

Uber buys Middle East rival Careem for $3.1bln 01:09

Uber is buying Middle East rival Careem for $3.1bln, giving the ride hailing app a much needed win after it was forced to divest several units due to heavy losses. Julian Satterthwaite reports.

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