$92M Aegean, Olympic Merger Under Scrutiny By EC

Law360, New York (April 23, 2013, 4:47 PM EDT) -- The European Commission said Tuesday it has launched an in-depth investigation of Aegean Airlines SA’s proposed proposed $92 million acquisition of rival Olympic Air SA, less than two years after scuttling a prior proposed merger between the air carriers.

The commission fears the resulting “merged entity would have a monopoly or an otherwise strong market position” in the Greek domestic air industry, according to a statement. It added the the opening of an inquiry does not “prejudge” the outcome of the investigation.

"We have the duty...
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