A PYMNTS Company

Australia: Virgin anticipates deal approval with CEO appointment

 |  April 22, 2013

A chief executive has already been decided by Virgin Australia, ahead of the company’s expected approval of a merger with Tiger Australia. The Australian Competition and Consumer Commission is scheduled to rule on the deal this Wednesday; if approved, Virgin will be granted the ability to buy a controlling stake in Tiger and, in the process, re-direct the nation’s airline sector to a duopoly. According to anonymous sources close to the deal, the transaction is expected to be approved, but not without concessions. Those sources say that if those concessions are too rigid, Virgin may drop its bid for the 60 percent take in Tiger.

Full Content: The Sydney Morning Herald

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