Jordanian authorities sign off on Uber-Careem merger: Jordan’s Industry, Trade, and Supply Minister Tariq Hammouri last week approved Uber’s planned USD 3.1 bn acquisition of Careem after deciding that the transaction would have “limited” negative effects on the market, the ministry said in a statement (pdf). Uber and Careem’s combined market share of Jordan’s ride-hailing industry does not exceed 40%, which the ministry says still leaves space for the country’s traditional taxi services and other ride-hailing services to compete. The ministry will allow the companies to operate a maximum of 10k vehicles in its combined fleet, with fares set at 15% higher than regular taxi fares.

Jordan is now the second country to approve the acquisition, after Emirati Minister of Economy Sultan bin Saeed Al Mansouri granted his “unconditional approval” to the transaction in June.

What’s going on with the Egyptian end of the merger? The Egyptian Competition Authority (ECA) has been a long-time critic of the merger, threatening each company with a fine of up to EGP 500 mn since before they had even reached an agreement. The ECA said that the agreement could “lead to a significant impediment on effective competition in the markets” and said it would take a decision after 60 working days of receiving official confirmation of the merger. It then granted itself another 60 days to study the merger in July, but we have yet to hear any updates. The ECA said at the time that both Uber and Careem have been notified of the extension, and have committed to operating separately until a decision is reached.