$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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.