Business

Uber announces to buy rival Careem for $3.1 billion

Global ride-hailing service Uber will acquire its Middle East rival Careem for $3.1 billion, the two companies announced on Tuesday. "Careem and Uber are joining forces. We have reached an agreement in which Uber will acquire Careem for $3.1 billion," a joint statement said. Under the deal, Careem will become a wholly owned subsidiary of Uber but will continue operating...

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