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Uber reportedly in talks to combine with Middle East rival Careem

Uber Technologies Inc. is in preliminary talks to combine with rival Middle Eastern ride-hailing carrier Careem Networks, Bloomberg News reported Tuesday. Details of the deal, which could either be a merger or a majority ownership stake, are still being hammered out, Bloomberg said. Dubai-based Careem is currently attempting to lift budget at a valuation of about $1.5 billion, the report said. San Francisco-based Uber has just lately ended two expensive regional rivalries, through merging its Russian operations with Yandex.Taxi remaining 12 months, and selling its Southeast Asia operations in trade for a stake in Singapore-based Grab in March.