Uber in talks for Middle East merger
Uber (UBER) is in preliminary talks with rival Careem to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry as Uber prepares for an IPO next year,
Several potential deal structures have been discussed, including having Careem's current leaders manage the new combined business while retaining one or both of the companies' local brands.
Another proposal would have Uber acquire Careem outright.
Uber Technologies is in primer chats with match Careem to join their Middle Eastern ride-hailing administrations, Bloomberg gave an account of Tuesday, refering to three individuals comfortable with the issue.
The organizations have examined a few potential arrangement structures and under one of them, Careem's present pioneers would deal with the new joined business while holding either of the organizations' nearby brands, and another proposition would be Uber obtaining the Middle East ride-hailing application, the report included.