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Alwaleed's Kingdom Backs Uber Merger Talks With Dubai Rival

  • CEO says prince’s investment firm isn’t involved in discussion
  • Potential deal could value Careem at as much as $2.5 billion
Prince Alwaleed Bin Talal
Prince Alwaleed Bin TalalPhotographer: Guy Martin/Bloomberg
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Kingdom Holding Co., one of Careem Networks FZ’s biggest backers, supports a potential merger between the Middle East ride-hailing firm and Uber Technologies Inc., according to the head of Prince Alwaleed Bin Talal’s investment firm.

“We don’t interfere nor are we party to the discussions, and if it ever happens I think we are supportive of it yes,” Chief Executive Officer Talal Bin Ibrahim Al Maiman said in an interview at the World Economic Forum in Davos, Switzerland.