LONDON (dpa-AFX) - The UK's Competition and Markets Authority or CMA, on Monday, announced a merger inquiry into the planned acquisition of Spain's Air Europa, by International Consolidated Airlines Group, S.A. (IAG) for 500 million euros.
The CMA announced the launch of its merger inquiry by notice to parties involved in the deal on November 19 which has a deadline of January 19, 2022, for its phase first decision.
'The CMA is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services,' the competition regulator said in a statement.
In 2019, IAG had announced its plans to acquire Air Europa for one billion euros. However, the price was cut in half owing to Covid-19 pandemic and related headwinds.
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