Lufthansa Offers Competition Fixes In Takeover Probe

Law360, New York (June 11, 2009, 12:00 AM EDT) -- The European Commission has extended its review of Lufthansa AG's bid to take over the largely state-owned Austrian Airlines AG because the airlines have offered concessions to handle the regulator's competition concerns over a deal that calls for Austria to take on a significant share of the airline's debt.

The watchdog postponed the deadline 10 working days from June 17 to July 1 after receiving proposed commitments or remedies from the parties involved. An EC spokeswoman called the move "standard practice" when a company involved in...
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