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

Business & FinanceTechnology

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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