February 28, 2019
(Reuters) – Uber Technologies Inc is in advanced discussions to buy its Dubai-based rival Careem Networks FZ, Bloomberg reported on Thursday, citing people familiar with the matter.
The companies may announce a cash-and-stock transaction that values Careem at about $3 billion in the coming weeks, the report said.
Uber and Careem did not immediately respond to Reuters request for comment.
(Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)