{"id":623418,"date":"2018-10-30T04:06:36","date_gmt":"2018-10-30T04:06:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/30\/egypt-competition-watchdog-says-oustas-death-pushed-it-to-act-on-uber-careem-merger\/"},"modified":"2018-10-30T04:06:36","modified_gmt":"2018-10-30T04:06:36","slug":"egypt-competition-watchdog-says-oustas-death-pushed-it-to-act-on-uber-careem-merger","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/30\/egypt-competition-watchdog-says-oustas-death-pushed-it-to-act-on-uber-careem-merger\/","title":{"rendered":"Egypt competition watchdog says Ousta\u2019s death pushed it to act on Uber, Careem merger"},"content":{"rendered":"

<\/a> ** #2 Competition watchdog says Ousta\u2019s collapse pushed it to act on Uber, Careem merger:<\/strong> The shutdown of Egyptian ride-hailing app Ousta signaled that the Egyptian Competition Authority (ECA) needed to keep an eye on the fast-growing industry, ECA head Emir Nabil said at a press conference on Monday, according to AMAY<\/a>. \u201cThere is a trend in the ride-hailing apps sector away from competition, as evidenced by the collapse of Ousta,\u201d said Nabil. He also noted that both Careem and Ousta had filed antitrust complaints<\/a> against Uber, claiming the global industry leader was trying to force a price war. The merger of Careem and Uber, which is could be worth as much as USD 2.5 bn, has the potential to hurt mns of users as well as the drivers who work for these companies, he added.<\/p>\n

Nabil said both companies acknowledged that merger talks were happening<\/strong>, but claimed the ECA acted when neither Uber nor Careem disclosed details on the transaction talks (shocking that they may want to negotiate a transaction behind closed doors, we know\u2026). The ECA had recently issued a warning<\/a> to Uber and Careem that they could face fines of EGP 500 mn each unless they formally seek an ECA exemption from the Antitrust Act.<\/p>\n

ECA trying to calm market on its push to regulate M&A: <\/strong>\u201cThe ECA does not want to stand in the way of M&As, but it must take steps if the risks of an M&A to the market are too high,\u201d said Nabil. We\u2019re taking that as a bid to calm fears that the ECA was using the Uber, Careem merger as a lever to gain more control over mergers and acquisitions. The ECA has been trying for the past two years to amend the Antitrust Act to give it sign-off powers on all M&A worth more than EGP 100 mn.<\/p>\n

In other ECA news, the authority is planning to look into the spike in potato prices<\/strong>, which has been driving the country hysterical of late. A working team has been formed to study pricing in the market. Nabil also noted that the ECA was cooperating with the UN on a new antitrust legal and policy research center in Cairo, which will launch on 19 November, according to Youm7<\/a>.<\/p>\n

Speaking of spuds: Potato prices were still getting air time last night. <\/strong>Nabil, as well as cabinet spokesperson Nader Saad and Consumer Protection Agency head Reda Abdel Moaty phoned into various talk shows last night to discuss the issue (watch here, runtime: 12: 39<\/a>, here, runtime: 7:44<\/a>, here, runtime: 2:24<\/a>, and here, runtime: 2:15<\/a>). Amr Adib also took note on El Hekaya (watch, runtime: 2:17<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

** #2 Competition watchdog says Ousta\u2019s collapse pushed it to act on Uber, Careem merger: The shutdown of Egyptian ride-hailing app Ousta signaled that the Egyptian Competition Authority (ECA) needed to keep an eye on the fast-growing industry, ECA head Emir Nabil said at a press conference on Monday, according to AMAY. \u201cThere is a […]<\/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":[3498,442,549,72,7128,328,2380,441],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-623418","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-antitrust-act","tag-careem","tag-egyptian-competition-authority","tag-enterpriseam","tag-ma-watch","tag-ride-hailing","tag-speed-round","tag-uber","wpautop","entry"],"acf":{"mongo_id":"fb69c96c-d3a1-4098-98b0-c87c9de6ab8b","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[623410],"teaser":"","voice_url":""},"yoast_head":"\nEgypt competition watchdog says Ousta\u2019s death pushed it to act on Uber, Careem merger - 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Couched in the verbiage of the agency, the ECA noted in a statement to the press (pdf) that it\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":625601,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/eca-to-conclude-investigation-into-uber-antitrust-complaints-soon\/","url_meta":{"origin":623418,"position":3},"title":"ECA to conclude investigation into Uber antitrust complaints \u201csoon\u201d","author":"enterpriseam admin","date":"9 August 2018","format":false,"excerpt":"ECA to conclude investigation into Uber antitrust complaints \u201csoon\u201d: The Egyptian Competition Authority (ECA) is still looking into complaints brought against Uber by ride-hailing rivals Careem and Ousta, but the investigation should wrap up soon, according to an ECA statement out on Wednesday (pdf). 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Effective fares on Grab rose 10-15% after Uber Technologies Inc\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":590642,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/30\/merged-uber-careem-to-operate-in-egypt-under-eca-rules\/","url_meta":{"origin":623418,"position":5},"title":"Merged Uber-Careem to operate in Egypt under ECA rules","author":"enterpriseam admin","date":"30 December 2019","format":false,"excerpt":"Uber-Careem merger gets green light from competition authority with a couple of minor caveats: The Egyptian Competition Authority (ECA) has granted regulatory approval for Uber\u2019s USD 3.1 bn acquisition of Careem, imposing only a handful of conditions designed to \u201cprotect the rights of riders, drivers, and investors,\u201d the competition watchdog\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\/3\/3061.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623418","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=623418"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623418\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/623410"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=623418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=623418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=623418"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=623418"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=623418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}