BRUSSELS (Reuters) – EU antitrust regulators final month briefly halted their investigation into British Airways proprietor IAG’s 400-million-euro ($434.28 million) bid to purchase out Air Europa, in line with a European Fee replace on its website on Monday.
The EU competitors enforcer had been poised to hit IAG with an antitrust warning relating to the deal in an indication that it wished the provider to beef up its bundle of treatments submitted final month, sources had instructed Reuters.
“We will affirm that on 1 March 2024 the Fee stopped the clock in its investigation into the acquisition of Air Europa by IAG, with impact as of 9 February 2024,” a Fee spokesperson stated, including the enforcer had requested sure knowledge.
“As soon as the lacking data is provided by the events, the clock is re-started and the authorized deadline for the Fee’s choice is then adjusted accordingly.”
The Fee’s earlier deadline to determine on the deal was June 7.
IAG and Air Europa scrapped a earlier deal in 2021 after their treatments failed to handle EU competitors issues.
($1 = 0.9212 euros)
($1 = 0.9211 euros)
(Reporting by Foo Yun Chee; Enhancing by Sharon Singleton)