Uber Plans To Acquire Dubai-based Careem Networks

According to Reuters.com, “Uber Technologies Inc will announce plans to acquire Dubai-based rival Careem Networks FZ as early as this week… Uber will pay $1.4 billion in cash and $1.7 billion in convertible notes, which will be convertible into Uber shares at a price equal to $55 per share…” Uber has been preparing it’s public offering and it’s expected to be $120 billion.