EU to Investigate Booking Holdings Acquisition of Flugo Group
16 Novembro 2022 - 2:28PM
Dow Jones News
By Anthony O. Goriainoff
The European Commission said Wednesday that it has opened an
investigation into the proposed acquisition of Sweden's Flugo Group
Holdings AB--which operates as Etraveli--by Booking Holdings
Inc.
The Commission said it was concerned the proposed transaction
would allow Booking to strengthen its position in the market for
online travel agencies, and increase barrier to entry and expansion
for rivals.
The executive body of the European Union said this could lead to
higher costs for hotels and other accommodation providers, as well
as higher prices for end customers.
The Commission said its preliminary investigation shows Booking
may have the ability to engage in foreclosure strategies regarding
rival flight agencies, which include reducing their visibility on
its Kayak price comparison platform.
The European Commission said it has until March 31 to make a
decision.
In September, the U.K.'s Competition and Markets Authority
cleared the deal following a review of the transaction.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 16, 2022 12:13 ET (17:13 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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