Uber to announce deal to buy rival Careem as early as this week: Bloomberg

Uber Technologies Inc will announce plans to acquire Dubai-based rival Careem Networks FZ as early as this week, Bloomberg reported on Sunday, citing people familiar with the matter.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, according to a term-sheet that Bloomberg said it had seen.Careem declined comment while Uber did not immediately respond to a request from Reuters comment.