Korean Air Receives First Approval for Asia Airlines Merger Review... Passes Turkish Review
[Asia Economy Reporter Dongwoo Lee] Korean Air has successfully taken the first step in the corporate merger review process, a gateway for the acquisition and merger of Asiana Airlines.
Korean Air announced on the 10th that it passed the corporate merger review related to the acquisition of Asiana Airlines from the Turkish Competition Authority (TCA) as of the 4th.
Earlier, on January 14, Korean Air filed corporate merger notifications with a total of nine competition authorities where notification is mandatory, including Korea, the United States, the European Union (EU), China, Japan, and Turkey.
Starting with the approval from the Turkish authorities, Korean Air expects to pass the corporate merger reviews from the other eight authorities without major issues.
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Meanwhile, Korean Air is preparing to submit notifications to countries where reporting is voluntary, such as the United Kingdom and Australia, and plans to complete the related procedures by submitting the notifications as soon as possible.
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