Are Uber and Careem Merging in the Middle East?
Reuters, Bloomberg, and other international and regional news websites are all reporting the exciting merge that might take place soon! The once rival companies, Uber and Careem, are in preliminary talks to combine their Middle Eastern car-hailing services.
The companies have discussed a number of potential deal structures. Careem’s current leaders might manage the new combined business while retaining one or both of the companies’ local brands, and in another proposal would be Uber acquiring Careem app! According to the sources, the discussions have been ongoing and may not result in a deal.
If the merge happened, ending the fierce competition between the two tycoons, one should be concerned about the increase in fares that might occur. Not to mention that if they are going to maintain only one brand, the app needs to be immensely enhanced to cater to the users of the two apps.
WE SAID THIS: We’ll keep you updated.