FIRST AIRED: March 26, 2019

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00:00:00
uber is buying its biggest rival in the Middle East the ride hailing phone will quiet Kareem for three point one billion dollars that'll give it dominance in the region ahead of a hotly anticipated IPO the deal has been lonely expected it tends more than nine months of stop start negotiations between the companies Kareem is bigger than Hoover in the Middle East North Africa Pakistan and Turkey now it becomes a wholly owned subsidiary old Luba Reuters out it's on the corner well into voice says analysts can see logic in this movie not only does it get the brand recognition in the region a harm growing Middle East brand %HESITATION with an Arabic name %HESITATION it also gets access to %HESITATION many markets the deal is expected to close in early twenty twenty it could be a much needed win for Cooper it's being forced to sell operations in China Russia and Southeast Asia off the heavy losses now %HESITATION the hopes it's done enough to stop regulators vetoing the new acquisition they said that they'll Kate Terry brands which means that the now it'll still be customer choice you'll be able to download the very bottom down like the Cray map and choose which one you want now that is simply means that will drive somewhat some competition has said the Kareem will continue develop its business somewhat independently uber expected to provide more details in the filing for its I PO the process for that expected to kick off in April it should value %HESITATION but at around one hundred billion dollars