EU Blocks Booking's Acquisition of Etraveli, Booking to Appeal
The European Union has blocked Booking from acquiring the Swedish travel site Etraveli, citing concerns over reduced competition. Booking plans to appeal the decision.
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EU Blocks Booking's Takeover of Swedish Travel Group
The European Commission has blocked US travel giant Booking from acquiring its Swedish rival eTraveli, citing concerns that the deal would strengthen Booking's dominant position in the online travel agencies market and lead to higher costs for hotels and consumers. The EU vetoed the €1.63 billion deal to protect consumers and ensure competition in the market, as Booking already commands a 60% market share for online travel agencies in Europe. This is the first merger to be blocked by the EU this year.