EC blocks Greek merger
Posted: Fri 28 Jan, 2011 5:55 PM
The European Commission (EC) has blocked the proposed merger of Olympic Air with AEGEAN Airlines.
Following an investigation which lasted 10-months, the EC has announced that the merger between the two Greek airlines would be prohibited because it could lead to a quasi-monopoly . The transaction had been agreed by the main shareholders of the airlines in February last year, and was subject to the approval by the European Competition Commission. However, following the EC s decision, the agreement between the two parties stands dissolved, as reported by Travel Daily UK.
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