EU antitrust regulators have extended their deadline for a decision on Air Canada’s proposed acquisition of Canadian tour operator Transat by two weeks to January 8, reported Reuters.
The European Commission, which opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada, stated the extension was applied in agreement with the two companies.
Air Canada last month cut its offer price for Transat by nearly 75% to about CA$188.7 million (US$144.7 million) because of the COVID-19 impact on travel demand.
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