A PYMNTS Company

Egypt: Regulator warns Uber, Careem of merger

By  |  October 25, 2018

The Board of Directors of the Egyptian Competition Authority (ECA) issued several temporary measures aimed to protect the gains resulting from the existing competition between Uber and Careem as well as to prevent adverse effects which may arise from the effect of any planned agreement or contract that might influence the competition between both companies.  The ECA has observed problems in Egypt that are similar to those in Singapore and the Philippines, reported Daily News Egypt.

Following the monitoring of these economic phenomena, the ECA addressed both Uber and Careem to inquire about the validity concerning the information received about agreeing on a merger. The parties did not deny such negotiations, hence, the ECA prepared an initial economic study and collected the necessary information and data.

These measures have been unanimously approved by the ECA’s Board of Directors, following an initial investigation.

Full Content: Daily News Egypt

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.