Uber talks to acquire Careem reaches final stages

Uber Technologies is reportedly in advanced talks with Careem Networks to acquire the Dubai-based ride-hailing company.

The transaction may be revealed in the coming weeks, with Careem valued at $3 billion (AED 11.02 billion), informed sources told Bloomberg.

Both companies declined to give comments on the matter.

The negotiations are still under progress and no final decision has been taken, the sources added.

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