Uber Technologies Inc. is in discussions to buy its Dubai-based rival Careem Networks FZ as the ride-hailing giant expands in the Middle East, people familiar with the matter said.
A deal could value Careem at $2 billion to $2.5 billion, the people said, asking not to be identified because the talks are private. Negotiations are ongoing and Careem’s management is working to convince the firm’s shareholders of the merits of a deal, the people said. No final decisions have been made, and the companies may decide against the transaction, they said.
