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The Egyptian Competition Authority (ECA) has approved of Uber’s merger deal with Careem and their subsequent operations in the country in accordance to certain regulatory obligations and restrictions, as per ECA’s official statement. In March 2019, it was announced that Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. Uber will acquire all of Careem’s mobility, delivery, and payments businesses across the…
