{"id":624270,"date":"2018-09-04T04:15:17","date_gmt":"2018-09-04T04:15:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/uber-careem-get-blunt-public-warning-from-competition-authority\/"},"modified":"2018-09-04T04:15:17","modified_gmt":"2018-09-04T04:15:17","slug":"uber-careem-get-blunt-public-warning-from-competition-authority","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/uber-careem-get-blunt-public-warning-from-competition-authority\/","title":{"rendered":"Uber, Careem get blunt, public warning from Competition Authority"},"content":{"rendered":"

<\/a> Competition watchdog gives Uber, Careem get blunt, public warning against merger: <\/strong>The Egyptian Competition Authority (ECA) took the relatively unusual step yesterday of publicly warning Uber and Careem against a merger. Couched in the verbiage of the agency, the ECA noted in a statement to the press (pdf)<\/a><\/u> that it has probed rumors contending the two ride-sharing companies were in merger talks. The authority notes that while Careem and Uber told investigators they hadn\u2019t agreed to merge, \u201cthe Authority is however aware that this in itself does not mean the absence of current negotiations between both entities.\u201d<\/p>\n

The ECA has already come to the conclusion that any merger could be anti-competitive <\/strong>and publicly reminded the two companies that any merger or acquisition would accordingly require its review before being executed. The competition watchdog specifically pointed to a decision by its sister agency in Singapore<\/a><\/u> that threatens to unwind a merger between Uber and rival Grab.<\/p>\n

Background: <\/strong>Bloomberg broke the merger talks in July, prompting both companies to issue denials<\/a><\/u>. Careem had said at the time that it was close to closing a new funding round meant to \u201cbolster its position as Uber\u2019s largest competitor in a fast-growing market.\u201d<\/p>\n

In other industry news: The executive regulations for the new Ride-Hailing Apps Act will not be issued before January 2019,<\/strong> says Rep. Mohamed Abdallah<\/a><\/u>, a member of the House Transport Committee. He said the delay in issuing the regs \u2014 which were due out this month<\/a><\/u> \u2014 owes to the number of parties and stakeholders involved in the drafting process, which include the ministries of transport, investment, ICT, and defense, alongside executives from Uber and Careem. The regulations will outline licensing requirements and fees for ride-hailing companies under the Ride-Hailing Apps Act<\/a><\/u>, which was signed into law in June, a month after it passed the House<\/a><\/u> of Representatives.<\/p>\n","protected":false},"excerpt":{"rendered":"

Competition watchdog gives Uber, Careem get blunt, public warning against merger: The Egyptian Competition Authority (ECA) took the relatively unusual step yesterday of publicly warning Uber and Careem against a merger. Couched in the verbiage of the agency, the ECA noted in a statement to the press (pdf) that it has probed rumors contending the […]<\/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-624270","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"653ec721-b977-449d-8e22-4b70cdfa0667","order":"0","is_powered_by":true,"section_story_id":"b5be957b-45c7-48af-b0e7-f3ae5c8f1d76","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624262],"teaser":"","voice_url":""},"yoast_head":"\nUber, Careem get blunt, public warning from Competition Authority - 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\/09\/04\/uber-careem-get-blunt-public-warning-from-competition-authority\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uber, Careem get blunt, public warning from Competition Authority\" \/>\n<meta property=\"og:description\" content=\"Competition watchdog gives Uber, Careem get blunt, public warning against merger: The Egyptian Competition Authority (ECA) took the relatively unusual step yesterday of publicly warning Uber and Careem against a merger. 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The sit-down \u201cfocused on the extent to which investments\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":596961,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/eca-extends-technical-examination-period-of-uber-careem-merger\/","url_meta":{"origin":624270,"position":1},"title":"ECA extends technical examination period of Uber-Careem merger","author":"enterpriseam admin","date":"14 July 2019","format":false,"excerpt":"ECA gives itself more time to rule in Uber-Careem merger: The Egyptian Competition Authority (ECA) has extended the period during which it is studying Uber\u2019s recent USD 3.1 bn acquisition of Careem by an additional 60 days, according to an ECA statement. 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