A Saudi woman shows the Careem app on her mobile phone in Riyadh, Saudi Arabia, January 2, 2017. REUTERS/Faisal Al Nasser
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Uber Technologies Inc. and Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry as Uber prepares for a public offering next year, according to three people familiar with the matter.In its discussions with Careem, Uber has said that it would need to own more than half of the combined company, if not buy Careem outright, according to the people familiar with the talks.Uber has been slimming down its businesses outside its core markets as it prepares for its own IPO in 2019 .Saudi Arabia's sovereign wealth fund is a large investor in Uber, after acquiring a $3.5 billion stake in the company in 2016 .
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