Page 30 - Super App News Today

By Lisa Barrington DUBAI (Reuters) -Emirates Telecommunications Group Company has agreed to take a 50.3% stake in a super app managed by Careem, Uber ...

Uber will still retain full ownership in Careem's ride-hailing business

Emirates Telecommunications Group company, e&, on Monday announced its decision to buy a $400 million stake in the super app developed by Uber Technologies and its subsidiary...

Investment comes as Emirates Telecommunications Group Company looks at scaling up consumer digital offerings

The UAE and the Gulf countries have seen a flurry of merger and acquisition activities in the post-pandemic period...

DUBAI: Emirates Telecommunications Group Co. has agreed to take a 50.3 percent stake in a super app managed by Careem, Uber Technologies' Middle East subsidiary, in a transaction valued at $400 million, e& said in a filing on Monday. The Super App will be managed by Careem founders Mudassir Sheikha and Magnus Olsson, said the company, formerly known as Etisalat Group and now

With a $400 million investment, e& will become a majority shareholder in Careem's super app, alongside Uber and all three of Careem's co-founders.

UAE’s global technology and investment group, e& is investing

The Super App will be managed by Careem founders Mudassir Sheikha and Magnus Olsson.

UAE-headquartered communication firm e& (formerly Etisalat) has acquired a 50.3 per cent stake in Careem’s Super App spinout...