{"id":622500,"date":"2018-10-03T04:33:11","date_gmt":"2018-10-03T04:33:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/03\/el-sisi-met-uber-ceo-khosrowshahi-as-competition-watchdogs-warning-against-potential-careem-merger-loom\/"},"modified":"2018-10-03T04:33:11","modified_gmt":"2018-10-03T04:33:11","slug":"el-sisi-met-uber-ceo-khosrowshahi-as-competition-watchdogs-warning-against-potential-careem-merger-loom","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/03\/el-sisi-met-uber-ceo-khosrowshahi-as-competition-watchdogs-warning-against-potential-careem-merger-loom\/","title":{"rendered":"El Sisi met Uber CEO Khosrowshahi as competition watchdog\u2019s warning against potential Careem merger loom"},"content":{"rendered":"

<\/a> ** #3 El Sisi met Uber CEO Khosrowshahi: <\/strong>Uber CEO Dara Khosrowshahi discussed the company\u2019s operations in Egypt and investment plans going forward with President Abdel Fattah El Sisi last week on the sidelines of the 73rd UN General Assembly in New York, the company said in a statement (pdf) on Tuesday<\/a>. Khosrowshahi reiterated plans to expand across 50% of Egypt\u2019s governorates by year\u2019s-end.<\/p>\n

ECA objections to Uber, Careem mergers hangs in the air: <\/strong>The meeting came as Uber and its local rival Careem are being scrutinized by the Egyptian Competition Authority over alleged talks of a USD 2-2.5 bn merger<\/a> between the two. While Uber and Careem initially denied the reports, the ECA issued a sharp warning<\/a> against any merger. The watchdog had asked the two companies to seek clearance before signing any agreements, citing a similar case in Singapore where the US company and its Asian rival Grab were last week fined a combined USD 9.5 mn<\/a>.<\/p>\n

Landmark case for the ECA: <\/strong>The potential merger is increasingly being seen as a watershed case for the watchdog to increase its powers over the M&A landscape. Law firm Baker McKenzie\u2019s Cairo office says the ECA\u2019s flexing of muscles<\/a> is a sign of the ECA\u2019s newfound desire to regulate M&A, warning that \u201cthe development appears to signify a new enforcement policy of the ECA, under which parties to any merger or acquisition may be required to notify the transaction to the ECA and to obtain its prior approval before entering into the agreement,\u201d the firm<\/a>. As we have previously reported, the ECA wants to amend the Antitrust Act to require its approval over M&A transactions larger than EGP 100 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

** #3 El Sisi met Uber CEO Khosrowshahi: Uber CEO Dara Khosrowshahi discussed the company\u2019s operations in Egypt and investment plans going forward with President Abdel Fattah El Sisi last week on the sidelines of the 73rd UN General Assembly in New York, the company said in a statement (pdf) on Tuesday. Khosrowshahi reiterated plans […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622500","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"be053d65-56f4-4979-9863-28cb8c16b2bc","order":"0","is_powered_by":true,"section_story_id":"8432c123-0b96-4a14-9ae4-f7467539754b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622490],"teaser":"","voice_url":""},"yoast_head":"\nEl Sisi met Uber CEO Khosrowshahi as competition watchdog\u2019s warning against potential Careem merger loom - 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\/2018\/10\/03\/el-sisi-met-uber-ceo-khosrowshahi-as-competition-watchdogs-warning-against-potential-careem-merger-loom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi met Uber CEO Khosrowshahi as competition watchdog\u2019s warning against potential Careem merger loom\" \/>\n<meta property=\"og:description\" content=\"** #3 El Sisi met Uber CEO Khosrowshahi: Uber CEO Dara Khosrowshahi discussed the company\u2019s operations in Egypt and investment plans going forward with President Abdel Fattah El Sisi last week on the sidelines of the 73rd UN General Assembly in New York, the company said in a statement (pdf) on Tuesday. 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The transaction is\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/5.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623267,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/egypt-competition-watchdog-warns-uber-and-careem-of-fines-up-to-egp-500-mn-each-in-case-of-merger\/","url_meta":{"origin":622500,"position":2},"title":"Egypt competition watchdog warns Uber and Careem of fines up to EGP 500 mn each in case of merger","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"** #1 Competition watchdog warns Uber and Careem of fines up to EGP 500 mn each in case of merger: The Egyptian Competition Authority (ECA) has sent another sharp, unprecedented warning to ride-hailing companies Uber and Careem that they could be fined up to EGP 500 mn each if they\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604371,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/02\/what-were-tracking-this-week-and-beyond-36\/","url_meta":{"origin":622500,"position":3},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"2 December 2018","format":false,"excerpt":"Is Egypt on the cusp of a citrus export rush? That appears to be the headlining topic at the Food Africa Expo taking place in Cairo on 8-11 December at the Cairo International Convention & Exhibition Centre. \u201cThe expo takes place at the start of the Egyptian citrus season and\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621902,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/careem-in-talks-with-adviser-on-potential-uber-merger\/","url_meta":{"origin":622500,"position":4},"title":"Careem in talks with adviser on potential Uber merger","author":"enterpriseam admin","date":"21 November 2018","format":false,"excerpt":"M&A WATCH- Uber, Careem merger talks appear to be in advanced stages despite Egyptian Competition Authority warning: Dubai-based ride-hailing operator Careem is using investment bank Jefferies as an advisor on a potential merger with Uber, three inside sources told Reuters. The news suggests Careem and Uber are ignoring a sharp\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625950,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/27\/uber-to-begin-implementing-longer-term-sustainability-plans-soon-ceo\/","url_meta":{"origin":622500,"position":5},"title":"Uber to begin implementing longer-term sustainability plans soon -CEO","author":"enterpriseam admin","date":"27 August 2018","format":false,"excerpt":"Uber looking at scooters and e-bikes for short hops: Uber is getting ready to replace cars in its service with scooters and electric bicycles for shorter journeys, CEO Dara Khosrowshahi tells the Financial Times in an interview. The move, which is part of the ride-hailing company\u2019s long-term strategy, will hurt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=622500"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622500\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622490"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622500"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622500"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}