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Bloomberg
Egypt signed off on Uber Technologies Inc’s acquisition of ride-hailing peer Careem Inc after setting price caps and other measures designed to keep the local market
competitive.
The decision was made after studying data on 270 million trips as well as Egyptian and international precedents, the Egyptian Competition Authority said on Sunday. Any raising of passenger prices has to comply with cap imposed by ECA.
Among the commitments the authority placed: Surge pricing, wherein rides temporarily become more expensive due to increased demand, will be limited to 2.5 times the normal trip cost.