Current:Home > MyEU Commission blocks Booking’s planned acquisition of flight booking provider Etraveli-LoTradeCoin
EU Commission blocks Booking’s planned acquisition of flight booking provider Etraveli
View Date:2024-12-23 22:31:51
BRUSSELS (AP) — The European Union’s executive arm said Monday it is blocking leading U.S. online travel agency Booking from acquiring Sweden’s flight booking provider Etraveli Group because it would have allowed it to increase its dominant position on the market on the continent.
The European Commission said it had warned Booking Holdings about its concerns but that the remedies offered by the company were not sufficient. Booking’s brands include Booking.com, Rentalcars, Priceline and Agoda.
Following its investigation, the Commission said it found out the proposed 1.63-billion-euro ($1.8 billion) deal would have led to higher costs for hotels, and possibly, a negative impact on the price paid by consumers.
“Bans are rare, and today’s decision is in fact the first merger to be blocked this year,” EU Justice Commissioner Didier Reynders said.
According to the European Commission, online travel agencies handle transactions worth more than 100 billion euros ($106 billion) per year.
veryGood! (999)
Related
- Halle Berry Rocks Sheer Dress She Wore to 2002 Oscars 22 Years Later
- 4.7 magnitude earthquake outside of small Texas city among several recently in area
- In MLB jersey controversy, cheap-looking new duds cause a stir across baseball
- Siesta Key's Madisson Hausburg Welcomes Baby 2 Years After Son's Death
- Klay Thompson returns to Golden State in NBA Cup game. How to watch
- How long will the solar eclipse darkness last in your city? Explore these interactive maps.
- Explosion at Virginia home kills 1 firefighter and hospitalizes 9 firefighters and 2 civilians
- Over 400 detained in Russia as country mourns the death of Alexei Navalny, Putin’s fiercest foe
- Whoopi Goldberg Shares Very Relatable Reason She's Remained on The View
- NBA All-Star Celebrity Game 2024: Cowboys' Micah Parsons named MVP after 37-point performance
Ranking
- Nevada trial set for ‘Dances with Wolves’ actor in newly-revived sex abuse case
- 'Peanuts' character Franklin, originating amid the Civil Rights Movement, is getting the spotlight
- 'Wait Wait' for February 17, 2024: With Not My Job guest Sleater-Kinney
- 2024 NBA All-Star Slam Dunk Contest: Time, how to watch, participants and winners
- How Kim Kardashian Navigates “Uncomfortable” Situations With Her 4 Kids
- Trump hawks $399 branded shoes at ‘Sneaker Con,’ a day after a $355 million ruling against him
- Rachel Brosnahan, Danai Gurira, Hoda and Jenna rock front row at Sergio Hudson NYFW show
- Albuquerque Police Department Chief crashes into vehicle while avoiding gunfire
Recommendation
-
BITFII Introduce
-
Family members mourn woman killed at Chiefs' Super Bowl celebration: We did not expect the day to end like this
-
Sleater-Kinney talk pronouncing their name the secret of encores
-
Trump avoids ‘corporate death penalty,’ but his business will still get slammed
-
Surfer Bethany Hamilton Makes Masked Singer Debut After 3-Year-Old Nephew’s Tragic Death
-
13 men, including an American, arrested at Canada hotel and charged with luring minors for sexual abuse
-
Bodies of deputy and woman he arrested found after patrol car goes into river; deputy's final text to wife was water
-
New Jersey district settles sex abuse lawsuit involving former teacher for $6 million