Uber is in talks with Careem to merge in Middle East [MSN Money]
Yandex N.V. - Class A Ordinary Shares (YNDX)
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Source: MSN Money
(Bloomberg) -- Uber Technologies Inc. and Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry as Uber prepares for a public offering next year, according to three people familiar with the matter. Load Error The companies have discussed a number of potential deal structures, but they haven’t come to an agreement on the contours, according to the people, who asked not to be identified because the talks are private. Uber has sold operations in Southeast Asia, Russia and China, and insisted that it was done selling off its global business piecemeal. In its discussions with Careem, Uber has said that it would need to own more than half of the combined company, if not buy Careem outright, according to the people familiar with the talks. A spokesman for Uber declined to comment. Under one proposed arrangement, Careem’s current leaders would manage the new combined business on a day-to-day ba
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