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UAE telco super app punt uses Indian playbook

The United Arab Emirates is finding more strategic places to park its cash. On Monday, $55 billion Emirates Telecommunications (e&), majority owned by the Gulf state, revealed it is splurging $400 million to scoop up a 50% stake in a so-called “super app” managed by Careem, Uber Technologies’ Middle Eastern subsidiary. The telecoms giant’s purchase follows a $4.4 billion investment in Vodafone in May last year. It’s a way to advance an ambition, revealed last June, to be a technolo...
Saudi Arabia United Arab Emirates City Of United Kingdom George Hay Uber Technologie

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