Reuters reveals Uber talks with Mideast unit over outside investment; market reacts - Reuters News Agency
Business & FinanceTechnology

Reuters reveals Uber talks with Mideast unit over outside investment; market reacts

Reuters exclusively reported that Uber Technologies is in talks with the management of its Middle East unit Careem to bring outside investors into the business, citing four sources familiar with the matter. The investment would help finance the further roll-out of Careem’s so-called Super App, two of the sources said, which offers services outside its core ride-hailing business such as food delivery, digital payments and courier services.

Market Impact

Uber shares rose 7.4% on Monday after the Reuters story was published.



Article Tags
Topics of Interest: Business & FinanceTechnology
Type: Reuters Best
Sectors: Business & FinanceEquitiesTechnology
Regions: Europe / Middle East / AfricaMiddle EastNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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