AEGEAN-OLYMPIC MERGER HITS ANTI-TRUST PROBLEMS

Dino D'Amore
By Dino D'Amore November 18, 2010 21:55

AEGEAN-OLYMPIC MERGER HITS ANTI-TRUST PROBLEMS

The merger between Aegean Airlines and Olympic Air has hit a roadblock as EU Competition Commissioner Joaquin Almunia states there are difficulties in approving the merger due to antitrust concerns.

“We have still time, weeks, ahead of us, to find an adequate solution,” said Almunia. “If we cannot find a solution that will avoid competition problems, we will react accordingly.”

The European Commission will rule on the merger by January 12 following the completion of its in-depth antitrust review of the plan in July.

Dino D'Amore
By Dino D'Amore November 18, 2010 21:55
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