Brussels, 04/10/2013 (Agence Europe) - On 9 October, the European Commission may decide to give the go-ahead to the planned acquisition of Greek airline Olympic Airways by competitor Aegean Airlines. Aegean is reported to have won over the European Commission, arguing that the deal was vital for the survival of Olympic and needed for the viability of its own business.
The Commission vetoed the merger back in 2011 through fears that it would lead to a virtual monopoly. The Commission opened a new investigation in April when it received notification of a new OPA worth €72 million submitted by Aegean in October 2012 (see EUROPE 10834). The Commission's decision will no doubt take account of new offers by Aegean to sell off parts of its business, along with the difficult economic situation in Greece. (FG/transl.fl)