A PYMNTS Company

Greece: Second time’s the charm for Aegean buyout of Olympic, say sources

By  |  October 2, 2013

Sources say the European Commission will likely clear the proposed buyout of Olympic Air by rival Aegean Airlines in a $96.38 million deal, the second time the Greek airline has pursued the competitor.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reports say two sources said Tuesday the Commission will allow the merger after Aegean Airlines claimed Olympic would shut down were the buyout to be blocked. In its proposal, Aegean says the merger is crucial to the survival of both airlines.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The European regulator ruled against Aegean’s first attempt to acquire its rival in 2011, finding that the deal would lead to a quasi-monopoly in he nation.

    This time, however, sources say the regulator will likely announce the deal next week.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.