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Uber unit sells stake in super app to UAE telco giant for $400 mn
UAE's telecom giant Emirates Telecommunications Group has agreed to buy a $400 million stake in a super app developed by Uber-owned ride-hailing service Careem. It will acquire a 50.03% stake in the super app spin-out. The super app will be managed by Careem Founders Mudassir Sheikha and Magnus Olsson. Uber acquired Careem in 2020.
read more at Reuters