Saturday, August 1, 2009

European Commission OKs Lufthansa/Austrian Deal

The European Commission issued a statement yesterday indicating that it was prepared to approve the proposed Lufthansa/Austrian Airlines merger:

After talks earlier today about the results of this week's market test, Lufthansa has put forward further improved remedies to address the competition concerns raised in this case. Following this, Commissioner Kroes has instructed her services to draft a conditional clearance decision. The draft decision will be submitted to the Advisory Committee of the Member States and a final proposal will be presented, for adoption, to the College of Commissioners as soon as possible.

See Press Release, Europa, Commissioner Neelie Kroes Reacts to Improved Remedies in Lufthansa/Austrian Airlines Merger Case, MEMO/09/358 (July 31, 2009) (available here).

Further information on Lufthansa's revised bid is available in a Financial Times story which appeared earlier this week.  See Nikki Tait & James Wilson, Lufthansa Confident Over New Proposals in Austrian Airlines Takeover, Fin. Times, July 29, 2009 (available here).

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