Thursday, 18 July 2019 12:57 GMT
img

UAE- Uber to retain Careem brand for now: Careem CFO




(MENAFN - Khaleej Times) 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.

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.

MENAFN1806201900490000ID1098654295


UAE- Uber to retain Careem brand for now: Careem CFO

  Most popular stories  

Day | Week | Month