DUBAI: Uber and Middle East ride-hailing business Careem will remain separate entities until at least the first quarter of 2020, when Uber’s acquisition is expected to close, Careem’s CFO said on Tuesday.
You can now book a Careem without internet
The $3.1 billion dollar acquisition will make Careem a wholly owned subsidiary of Uber, but the Careem brand and app will remain intact, at least initially.
Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ