Uber acquires Dubai-based rival Careem in $3.1b deal, ahead of much-awaited IPO

Uber acquires Dubai-based rival Careem in $3.1b deal, ahead of much-awaited IPO

Careem. Photo: Bloomberg

Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering.

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