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Uber Confirms Buying Careem for $3.1 Billion

1. Uber confirms acquiring Dubai- based ride hailing service Careem in a deal worth $3.1 billion, which consits of $1.4 billion in cash and $1.7 billion in convertible notes

2. Dubai based Careem has almost 30 million registered users across 120 cities in the mIddle East, North Africa and South Asia

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