Emirates Telecommunications to acquire a 50.3% stake in Careem from Uber for $400m.

Emirates Telecommunications, an Emirati-based multinational telecommunications services provider, agreed to acquire a 50.3% stake in the Careem super app from Uber, a global mobility company, for $400m. This investment is in line with e&’s strategic ambition of scaling up consumer digital offerings and accelerating its transformation to a global technology and investments group. It provides e& with access to multiple digital verticals, new innovative digital services, strong talent, and new geographies.