A Saudi woman shows the Careem app on her mobile phone in Riyadh, January 2, 2017. (REUTERS/Faisal Al Nasser/File)
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Uber Technologies Inc. is in advanced discussions to buy its Dubai-based rival Careem Networks FZ, a deal that would expand the ride-hailing giant's operations in the Middle East, according to people familiar with the matter. The companies may announce a cash-and-shares transaction that values Careem at about $3 billion in the coming weeks, the people said, asking not to be identified because the talks are private.Uber and Careem held preliminary talks in July to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry in the region, people familiar with the matter said at the time.
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