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Uber buys Careem for $3.1 billion to expand into Middle East

CBS News Tuesday, 26 March 2019 ()
The purchase, the largest tech transaction in the Middle East, will allow Careem to keep its brand and app unchanged
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News video: Uber Buys Rival For Over $3 Billion

Uber Buys Rival For Over $3 Billion 00:36

SAN FRANCISCO (Reuters) - 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. The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019....

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