EU Approval Of Olympic, Aegean Tie-Up A Rare Flip-Flop

Law360, New York (October 9, 2013, 7:06 PM EDT) -- The European Commission's decision Wednesday to let Aegean Airlines buy struggling rival Olympic Air SA two years after the antitrust watchdog rejected the same merger marks an unusual about-face for the EC, but experts say drastic changes to the Greek economy and Olympic's viability — and not a policy shift — are behind the change of heart.

Not only is the €72 million ($97 million) deal smaller than the merger the EC rejected in 2011, but the agency's second review concluded that Olympic would be unable...
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