EU Approves Priceline's $550M Buy Of Online Travel Rival
By Joyce Hanson (July 17, 2017, 9:38 PM EDT) -- The European Union's antitrust regulator said Monday it has unconditionally approved U.S. online travel company The Priceline Group's $550 million acquisition of its rival Momondo Group under the EU's merger regulation, concluding that the deal will raise no competition concerns in the European Economic Area.
The European Commission said Norwalk, Connecticut-based Priceline — which operates online travel agents and comparison metasearch sites with brands including Priceline.com, Booking.com, Kayak, Rentalcars.com and Opentable — has limited geographic overlap with London-based Momondo Group's primary activity of running metasearch sites Momondo and Cheapflights.
In addition, the EC said, the proposed transaction would raise no competition...
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