European Union flags flap in the wind in the EU Quarter of Brussels, Wednesday, Sept. 20, 2023. The European Quarter is the headquarters of the main buildings of the European Union, inluding the European Parliament. – The European Union's executive arm said Monday it is blocking leading U.S. 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.” would have led to higher costs for hotels, and possibly, a negative impact on the price paid by consumers. According to the European Commission, online travel agencies handle transactions worth more than 100 billion euros per year.
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