EU Blocks Booking's Proposed Acquisition of Etraveli
25 September 2023 - 7:17PM
Dow Jones News
By Giulia Petroni
The European Commission said Monday that it has prohibited
Booking Holdings' proposed 1.6 billion-euro ($1.7 billion)
acquisition of Sweden's Flugo Group Holdings, which operates as
Etraveli.
The deal would have allowed Booking to strengthen its dominant
position on the market for online travel agencies in the European
Economic Area, according to the European Union's executive arm,
leading to higher costs for hotels and possibly for consumers.
"Booking didn't offer remedies that were sufficient to address
these concerns," the Commission said.
The decision follows an in-depth investigation opened last
year.
Booking wasn't immediately available for comment when contacted
by Dow Jones Newswires.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 25, 2023 05:01 ET (09:01 GMT)
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