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.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates On Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI