EU Extends Review of Korean Air-Asiana Merger... Decision Likely Delayed by About 2 Months
The European Union (EU) has temporarily suspended its investigation into the corporate merger of Korean Air and Asiana Airlines. Industry insiders expect that the announcement of the review decision, originally scheduled for early August, will be delayed by about two months.
According to the European Commission (EC) website on the 29th, the European antitrust regulator temporarily halted the review of the corporate merger between Korean Air and Asiana Airlines as of the 23rd.
Initially, the EU authorities had announced that they would decide on the merger approval by August 3. However, due to this measure, it is expected that an additional two months will be needed before the final result is released.
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Korean Air stated, "We have been negotiating with the EC to extend the review period in order to specify the remedial measures, and accordingly, the review extension has been decided. We will do our best to complete the remedial measure negotiations smoothly with the EC within the extended period and secure final approval."
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