Uber’s Middle East subsidiary Careem offloads 50.3% stake in super app to Emirates Telecom

A super app managed by Uber Technologies’ Middle East subsidiary Careem has offloaded a 50.3% stake to Emirates Telecommunications Group Company for $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 called e&.