The European Union’s executive arm said on Monday it is blocking leading US online travel agency Booking from acquiring Sweden’s flight booking provider Etraveli Group, because it would have allowed it to increase its dominant position on the market on the continent.
Booking Holdings said it plans to appeal, adding that the fusion would have “delivered tremendous benefits for consumers and partners by bringing more options and competitive pricing.” “Booking Holdings regrets very much the lack of convergence of the European Commission with other major international enforcers on this pro-competitive transaction.”
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