Sign up
Tech Capital

Uber said to be in Middle East merger talks with rival Careem

The two companies have reportedly discussed several potential types of deal during the talks
Uber is looking to expand operations in the Middle East via any deal

Uber is reportedly in talks with UAE (United Arab Emirates) based taxi app and rival Careem to combine their ride-hailing services in the Middle East.

It is a big region with much potential. For example, public transport is basically non-existent in Saudi Arabia, which has provided the likes of Careem and Uber a captive market up until now.

Several proposals

The two companies have discussed several potential deals in merger talks, it was reported by Bloomberg,  and under one, Careem would manage the new combined business while retaining one or both of the pair's local brands.

Another scheme sees Uber acquiring the Middle East ride-hailing app.

Uber has said though reportedly that it would need to own more than half of the combined company, if not buy Careem outright.

"Our ambition is to build a lasting institution for the region and that means focusing on growth into new markets and doubling down on our existing cities to open our platform up to new products and services," Careem spokeswoman Maha Abouelenein reportedly said.

And there's Finland

Also in other Uber news today, the tech group is to start operations again in Finland after a change to the country’s strict transport laws

It comes following an almost one-year suspension resulting from the new rules.

A new Finnish Act on transport services came into effect at the start of this month (July), aimig to be digital-friendly and to make the process of applying for taxi permits easier.


Register here to be notified of future UBER Company articles
View full UBER profile View Profile
View All

Related Articles

© tech Capital 2018

Tech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed tech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Tech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.