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Uber, Careem to remain separate for now – Careem CFO

Uber, Careem to remain separate for now – Careem CFO
Uber and Careem will remain separate entities

Mubasher: Uber will retain the brand of Careem, the ride-hailing business in the Middle East, for the current time, the CFO of Careem Ankur Shah said, according to Reuters.

Uber and Careem will remain separate entities until at least the first quarter of 2020, when Uber's acquisition is expected to close, Careem's CFO added.

“Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai,” Reuters reported.

Uber’s $3.1 billion worth acquisition of Careem will make latter a fully-owned subsidiary of Uber, but the brand and app of Careem will remain intact, at least initially.