Uber is now much closer to becoming a major force in the Middle East. Egyptian regulators have approved the ridesharing giant’s $3.1 billion acquisition of Careem, giving it the most significant clearance needed to complete the deal. There are still other approvals needed if the union is going to close as planned in January, but it now appears to be more a matter of time. However, this isn’t a carte blanche approval — Uber will have to abide by some conditions.

Uber clears a key hurdle to buying its Middle Eastern rival

Source: Yahoo.com – Technology


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