American company Uber, which created the taxi service of the same name, announced it had bought its Middle East competitor Careem for $3 billion 100 million. Under the terms of the deal, the American company will pay 1 billion 400 million dollars in cash, and the remaining 1 billion 700 million dollars will be paid in convertible notes. Careem will continue its operation as a subsidiary of Uber. The closing of the deal, which is still subject to regulatory approval, is expected in the first quarter of 2020. At the same time, antitrust regulators in countries where Uber operates may require it to change the terms of the transaction, which may cause the postponement of the planned closing dates.
Alibaba extends help to firms hit by coronavirus spread, offers $2.86 billion in loans14.02.2020
Asian shares gain, on its way to second straight week07.02.2020
Uber expects gains at latter part of 2020 but braces for year of decline03.02.2020
Shanghai stocks decline $370 billion in market cap as virus fears hit Chinese markets