Business
Uber Set to Acquire Careem for $3.1 Billion
Uber Technologies Inc is set to announce a $3.1 billion cash-and-share deal to acquire its Dubai-based rival, Careem Networks FZ, according to people with knowledge of the matter.
The deal, expected to be announced Tuesday, will see Uber pay $1.4 billion in cash and the remaining $1.7 billion in notes convertible to Uber shares, Bloomberg reported.
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