A PYMNTS Company

Qatar: Uber’s acquisition of Careem blocked

 |  September 8, 2019

Qatar’s competition authority has blocked Uber’s proposed US$3.1 billion acquisition of Careem in the country, Uber’s recent Securities and Exchange Commission (SEC) filing has revealed. 

According to Menabytes, the filing does not share details about Qatar’s decision, but notes that “the Qatar competition authority issued a decision in August 2019 blocking the proposed [Uber’s] acquisition [of Careem] in Qatar.”

The Qatari authority hasn’t issued any public statement announcing the decision and has shared it privately with the two companies. According to Uber’s filing, Uber and Careem intend to seek further review of the decision. The filing also confirms that the United Arab Emirates is the only country to have approved the Uber-Careem deal.

Full Content: Menabytes

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