Kingdom Holding, one of Careem Networks’ biggest backers, supports a potential merger between the Middle East ride-hailing firm and Uber Technologies, according to the head of Prince Alwaleed Bin Talal’s investment firm.
“We don’t interfere nor are we party to the discussions, and if it ever happens I think we are supportive of it yes,” CEO Talal Bin Ibrahim Al Maiman said in an interview at the World Economic Forum in Davos, Switzerland.
Uber is in talks to acquire Careem to help the ride-hailing giant expand in the Middle East in a deal that could value the Dubai-based firm at $2 billion to $2.5 billion, people with knowledge of the plans said in September. Saudi billionaire Alwaleed joined a $500 million-fundraising round by Careem in 2017 and invested again in October. Kingdom Holding also has a seat on the company’s board.
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