EU antitrust regulators halt for now probe into IAG's Air Europa deal [Reuters]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Reuters
IAG's (ICAG.L) , opens new tab 400-million-euro ($434.28 million) bid to buy out Air Europa, according to a European Commission update on its site on Monday. The EU competition enforcer had been poised to hit IAG with an antitrust warning regarding the deal in a sign that it wanted the carrier to beef up its package of remedies submitted last month, sources had told Reuters. "We can confirm that on 1 March 2024 the Commission stopped the clock in its investigation into the acquisition of Air Europa by IAG, with effect as of 9 February 2024," a Commission spokesperson said, adding the enforcer had requested certain data. "Once the missing information is supplied by the parties, the clock is re-started and the legal deadline for the Commission's decision is then adjusted accordingly." The Commission's previous deadline to decide on the deal was June 7. IAG and Air Europa scrapped a previous deal in 2021 after their remedies failed to address EU competition concerns. ($1 = 0.
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News
- La Comisión envía un pliego de cargos sobre la propuesta de adquisición de Air Europa por IAGPR Web
- EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]Reuters
- EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]Reuters
- Lufthansa offers concessions to gain EU nod on ITA takeover [Yahoo! Finance]Yahoo! Finance
- Exclusive: EU regulators have not sought feedback on IAG's Air Europa deal, sources say [Reuters]Reuters