Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

EU antitrust regulators extend deadline for IAG-Air Europa deal to Dec. 3

Published 22/07/2021, 11:48
Updated 22/07/2021, 11:50
© Reuters. FILE PHOTO: Iberia and Air Europa airplanes are parked at a tarmack at Adolfo Suarez Barajas airport amid the coronavirus disease (COVID-19) pandemic in Madrid, Spain, December 15, 2020. REUTERS/Susana Vera

BRUSSELS (Reuters) - EU antitrust enforcers have extended their deadline for a decision on British Airways and Iberia owner International Airlines Group (LON:ICAG)'s 500-million-euro ($589.5 million) bid for Spain's Air Europa to Dec. 3, an EU filing showed.

The European Commission, which opened a full-scale investigation last month on concerns that the deal would reduce competition on Spanish local and international routes, had previously set a Nov. 5 deadline.

Since the start of the pandemic, the EU competition regulator has extended its deadlines in a number of merger cases to allow companies more time to gather information from clients and rivals necessary to assess deals.

IAG may have to offer concessions, such as giving up certain routes, to secure EU approval for the Air Europa deal.

($1 = 0.8481 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.