UAE's e& picks up $400m majority stake in Uber Middle East's super app

UAE's e& picks up $400m majority stake in Uber Middle East's super app

FILE PHOTO: Careem CEO, Mudassir Sheikha shows the logo of the company's delivery service Careen NOW on his mobile at the company headquarters in Dubai, UAE December 13, 2018. REUTERS/Satish Kumar/File Photo

Emirates Telecommunications Group Company has agreed to take a 50.3% 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.