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Thursday, 5 July 2018

Uber and Careem not in talks to merge, says Careem spokesperson

Ride-hailing apps Uber and Careem are not in talks over a potential merger or acquisition, Careem spokesperson Maha Aboul Enein told Al Mal yesterday. Bloomberg had reported late on Tuesday night that the ride-sharing companies were discussing a potential consolidation that could either see them merge their operations or see Uber fully acquire it Middle Eastern rival. Aboul Enein dismissed the news as a “rumor,” claiming that Careem is trying to build its own leading platform in the Arab World and working to expand into new markets and bolster its presence in existing ones. We had heard that Careem was close to closing a new funding round meant to “bolster its position as Uber’s largest competitor in a fast-growing market.”

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