{"id":601485,"date":"2019-03-03T04:24:14","date_gmt":"2019-03-03T04:24:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/03\/uber-careem-takeover-seems-to-be-closing\/"},"modified":"2019-03-03T04:24:14","modified_gmt":"2019-03-03T04:24:14","slug":"uber-careem-takeover-seems-to-be-closing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/03\/uber-careem-takeover-seems-to-be-closing\/","title":{"rendered":"Uber-Careem takeover seems to be closing"},"content":{"rendered":"

<\/a> Uber, Careem seem to be closing in on takeover agreement<\/b>: Talks for global ride-hailing giant Uber to acquire Dubai-based Careem is in an advanced stage, Bloomberg reported<\/a>. The companies may announce a cash-and-shares transaction that values Careem at about USD 3 bn in the coming weeks but no agreement has been reached yet, sources told Bloomberg. The two companies have repeatedly denied<\/a> reports on the potential merger.<\/p>\n

Egypt\u2019s competition watchdog should keep an ear to the ground:<\/b> The Egyptian Competition Authority (ECA) hasthreatened both companies<\/a> with fines of up to EGP 500 mn apiece if they go through with a merger. \u201cUber and Careem are the only ride-hailing applications available in Egypt. Any anticompetitive interaction or harmonization of their business strategies including agreement to merge has the potential to cause serious and irrecoverable damage to Egyptian competition and consumers,\u201d ECA Chairman Amir Nabil previously said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Uber, Careem seem to be closing in on takeover agreement: Talks for global ride-hailing giant Uber to acquire Dubai-based Careem is in an advanced stage, Bloomberg reported. The companies may announce a cash-and-shares transaction that values Careem at about USD 3 bn in the coming weeks but no agreement has been reached yet, sources told […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[442,72,7128,328,2380,441],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601485","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-careem","tag-enterpriseam","tag-ma-watch","tag-ride-hailing","tag-speed-round","tag-uber","wpautop","entry"],"acf":{"mongo_id":"7419afed-4fa3-4d6d-99e9-bbf76c18d0a8","is_powered_by":true,"section_story_id":"e3c53631-9fb2-432f-9c60-ee80a356094d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601475],"teaser":"","voice_url":""},"yoast_head":"\nUber-Careem takeover seems to be closing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/03\/uber-careem-takeover-seems-to-be-closing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uber-Careem takeover seems to be closing\" \/>\n<meta property=\"og:description\" content=\"Uber, Careem seem to be closing in on takeover agreement: Talks for global ride-hailing giant Uber to acquire Dubai-based Careem is in an advanced stage, Bloomberg reported. 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