The Competition Commission of Pakistan (hereinafter “CCP” or “the Commission”) through its order dated 31 January 2020 (“the Order”) [1] approved the acquisition of Careem by Uber Technologies, Inc., transforming the duopolistic market of application-based ridesharing services into a monopolistic market. This was the first time that a two-to-one merger was approved in Pakistan. Careem is/was a Dubai-based company, which offered services that included peer-to-peer ridesharing, ride service hailing through its platforms that could be accessed via its websites and mobile apps. It had operations in over 100 cities in 15 countries in the Middle East, Africa, and South Asia, including Pakistan. In March 2019, Uber and Careem entered into an agreement for Uber to acquire Careem for $3.1 billion,
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The Pakistan Competition Authority approves an acquisition between two application-based ride-sharing service companies despite extremely high market concentration levels and efficiencies failing to outweigh the adverse effects of lessening competition (Careem / Uber)
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