$270M IAG-Lufthansa Deal Cleared For Takeoff In EU

Law360, New York (April 2, 2012, 10:40 PM EDT) -- British Airways parent International Consolidated Airlines Group SA won European Union approval Friday for its planned £172.5 million ($270 million) purchase of Deutsche Lufthansa AG's airline British Midland Ltd., after agreeing to conditions including freeing up 14 daily runway slots at the London Heathrow Airport.

The European Commission — which had initially found that the proposed deal could have increased market shares and monopolies on local, European and international routes from Heathrow — greenlighted the deal after IAG agreed to release the takeoff and landing slots...
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