0
Wireless

Uber in talks to acquire Careem – report

Wednesday 19 September 2018 | 09:36 CET | News
Uber Technologies is in discussions to buy its UAE-based rival Careem Networks, people familiar with the matter said, Bloomberg reported.  A deal could value Careem at USD 2 billion to USD 2.5 billion, the people said, asking not to be identified because the talks are private. Negotiations continue and Careem's management is working to convince the firm's shareholders of the merits of a deal, the people said, but no final decisions have been made. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Careem / Uber
Countries: United Arab Emirates
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Uber to acquire Careem for USD 3.1 bln

Published 26 Mar 2019 09:37 CET | World
Uber has agreed to acquire its Middle East rival Careem for USD 3.1 billion, consisting of USD 1.7 billion in convertible notes ...

Careem plans to raise up to USD 200 mln in China - report

Published 21 Nov 2018 11:24 CET | Middle East
Middle East taxi application firm Careem plans to raise between USD 100 million and USD 200 million from Chinese investors, ...

Oman Technology Fund, Careem sign MoU to study transport innovations

Published 12 Nov 2018 13:57 CET | Oman
Oman Technology Fund (OTF) has signed an agreement with Careem, the lift hailing company, to study transport and delivery ...

Careem obtains another USD 200 mln to expand and expects more funds

Published 20 Oct 2018 16:52 CET | United Arab Emirates
Middle East ride-hailing company Careem said it had secured USD 200 million more funding from existing investors and that it ...

Careem reaches 1 mln drivers in Middle East

Published 05 Sep 2018 10:21 CET | Middle East
Careem has passed the 1 million driver mark in the Middle East as it competes with global rival Uber, Arab News reported. The ...

Ride-hailing app Ola to challenge Uber in UK market

Published 07 Aug 2018 11:09 CET | United Kingdom
Ride-hailing app Ola has announced plans to enter the UK market. It will initially launch services in South Wales and Greater ...

Egyptian court orders suspension of Uber, Careem licences - report

Published 22 Mar 2018 09:08 CET | Egypt
An Egyptian court has ordered the suspension of licences for lift-hailing companies Uber and Careem after taxi drivers filed a ...





Calendar   /   Industry Events

26 Oct Siminn Q3 2021
26 Oct KPN Q3 2021
26 Oct NENT Q3 2021
26 Oct Juniper Networks Q3 2021
26 Oct Corning Q3
26 Oct TIM Brasil Q3 2021
26 Oct Alphabet Q3 2021
26 Oct Digital Realty Q3
26 Oct Twitter Q3 2021
26 Oct MediaTek Q3
26 Oct Microsoft fiscal Q1
26 Oct SK hynix Q3
26 Oct Orange group Q3 2021
26 Oct F5 Networks fiscal Q4
26 Oct FCC meeting
26 Oct MWC Los Angeles
26 Oct Samsung Developer Conference
26 Oct Cabsat
27 Oct Telefonica Deutschland Q3 2021
27 Oct TIM Q3 2021
27 Oct Twilio Q3
27 Oct Spotify Q3 2021
27 Oct Hrvatski Telekom Q3 2021
27 Oct Ooredoo Q3 2021
27 Oct Vertiv Q3
27 Oct Netgear Q3
27 Oct Megacable Q3
27 Oct Android Dev Summit
27 Oct Digital Utilities Europe 2021
28 Oct Apple fiscal Q3
::: More Calendar Items