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EU antitrust deadline on Booking's Etraveli deal extended to Sept. 6

Published 10/07/2023, 17:22
Updated 10/07/2023, 21:36
© Reuters. FILE PHOTO: Glenn Fogel, president and CEO of Booking Holdings, attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermid/File Photo
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BRUSSELS (Reuters) - EU antitrust regulators have extended their deadline for a decision on online travel agency Booking (NASDAQ:BKNG) Holdings' 1.63-billion-euro ($1.8 billion) acquisition by a week to Sept. 6, a European Commission filing showed on Monday.

Booking CEO Glenn Fogel and and Etraveli CEO Mathias Hedlund sought to win over the EU competition enforcer at a closed hearing in Brussels last week.

Given EU concerns the deal could reduce competition, Booking, whose brands include Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable, may have to offer remedies in the coming days.

© Reuters. FILE PHOTO: Glenn Fogel, president and CEO of Booking Holdings, attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermid/File Photo

Last month, the Commission warned that the deal would reinforce Booking's market power and push up costs for hotels.

($1 = 0.9107 euros)

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