The Egyptian Authority for Competition Protection and the Prevention of Monopolistic Practices announced in Egypt yesterday that it had received an official notification from the two international companies, Uber and Karim, to conclude a future purchase contract suspended from the approval of the agency, which is A primary contract whereby Uber International buys Karim International.
The device said that, according to the acquisition notification, it includes all the Karim companies in the Middle East, including the Arab Republic of Egypt, and the initial agreement included a condition that it is not enforced except after obtaining approval Egyptian Competition Authority.
He pointed out that he would make his decision after receiving the formal notification from the concerned parties who fulfill all his legal requirements mentioned in the provisions of the competition protection law, and that the technical examination by the agency will end, Either to consent to the completion of the process, or to approval with the establishment of binding measures for the parties to limit the damages resulting from it, or to reject the process if it becomes evident that there are damages that may affect the Egyptian market that cannot be corrected.
The device explained that during last October, he realized the danger of receiving the deal and the consequent restriction of competition in the relevant markets, such as the passenger transport market through electronic applications, whether in private cars. Or by minibus (microbus), motorbike (motorbike) or tuk tuk, as well as a takeaway delivery service, and last but not least, a courier service.
Since that date, the device has been monitoring the developments of that issue through a working group that applies the highest international standards in economic and legal analysis to avoid any damages to competition within the Egyptian market.
In this context, the agency invites all concerned and small and medium-sized companies that have recently invested in this promising market to go to the agency to express their views on whether this agreement would because It reduces competition and investment opportunities in this ...
