February 28, 2019 / 6:08 PM / 25 days ago

Uber in advanced talks to buy Middle East rival Careem - Bloomberg

Feb 28 (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 here said.

Uber and Careem did not immediately respond to Reuters request for comment. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)

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