Uber to acquire Mideast rival Careem for $3.1 billion

"Careem and Uber are joining forces. We have reached an agreement in which Uber will acquire Careem for $3.1 billion," a joint statement said. Saudi Technology Ventures (STV) said that Uber's deal with Careem will help the Middle East ride hailing firm expand its customer base even further and continue to develop the regional economy.

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