Lufthansa's €325 Million ITA Deal Set for EU Approval [BNN Bloomberg (Canada)]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
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Source: BNN Bloomberg
The EU's competition arm is in the process of drafting an approval decision, after Lufthansa and the Italian government addressed remaining sticking points, according to people familiar with the matter who spoke under condition of anonymity. Lufthansa filed a final remedy package earlier this week which has calmed EU fears over preserving fair competition particularly on long-haul routes, which will also help to keep prices down for consumers, the people said. Watchdogs have until July 4 to rule on the deal. The people stressed that the content of the draft decision could still change ahead of this date. Lufthansa wants to take over the former Alitalia in two stages to gain a stronger foothold in one of Europe's biggest but also most competitive aviation markets. The deal has faced tough scrutiny from the Brussels-based European Commission, particularly its effect on long-haul travel. Despite a spate of concessions, the transaction seemed on the brink of collapse after regula
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