Careem co-founders Abdulla Elyas (middle), Magnus Olsson (right) and Mudassir Sheikha Careem

Uber has now been reported to be in talks to acquire its Dubai based and major Middle Eastern competitor Careem in a deal which Bloomberg states could value Careem at between $2 billion to $2.5 billion.

According to the people familiar with the matter as reported by Bloomberg, Negotiations are on-going while Careem’s management is working on convincing its shareholders of the merits of a deal.

No final decision has been made yet and the reported acquisition might be ruled out as reported by the sources.

A deal like this would mark Uber’s largest acquisition yet and represent a major effort to cement its global spread as it aims for dominance in the ride-sharing and mobility market in preparation for an IPO set for next year.

This report also notably comes more than 2 months after Uber was reported to be in talks of merging its Middle Eastern operations in the company as in the case of Grab and Chinese giant Didi Chuxing.

With no stamped deal as of current, We’ll get to know in future time if this acquisition which would marks one of this year’s biggest and a notable exit for the Middle Eastern startup space would go through.

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