steven36 Posted June 18, 2019 Share Posted June 18, 2019 DUBAI (Reuters) - Uber and Middle East ride-hailing business Careem will remain separate entities until at least the first quarter of 2020, when Uber’s acquisition is expected to close, Careem’s CFO said on Tuesday. FILE PHOTO: An employee shows the logo of ride-hailing company Careem on his mobile in his office in the West Bank city of Ramallah The $3.1 billion dollar acquisition will make Careem a wholly owned subsidiary of Uber, but the Careem brand and app will remain intact, at least initially. Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai. Source Link to comment Share on other sites More sharing options...
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