EU antitrust regulators on Monday, May 25, opened a full-scale investigation into Air Canada’s bid for Canadian tour operator Transat AT, claiming that the deal may reduce competition on flights between Europe and Canada, reported Reuters.
The European Commission stated the companies had declined to offer concessions to address its concerns during its preliminary review of the deal. It set a September 30 deadline for its decision.
Montreal-based Air Canada is hoping Transat will boost its leisure travel business and help it better compete with rival WestJet Airlines under a new owner.
Full Content: Reuters
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