Uber will buy Middle Eastern rival Careem in $3.1-billion deal, sources say

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Uber is set to announce a $3.1-billion cash-and-share deal to acquire its Dubai-based rival Careem Networks as early as this week, according to people with knowledge of the matter.

Uber Technologies Inc. is set to announce a $3.1-billion cash-and-share deal to acquire its Dubai-based rival Careem Networks as early as this week, according to people with knowledge of the matter.

Uber spokesman Matt Kallman declined to comment. A spokesman for Careem wasn’t immediately able to comment.imminent initial public offering

 

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