EU antitrust regulators approved on Monday U.S. online travel company Priceline’s planned acquisition of Momondo Group without conditions.
The European Commission said it had concluded that the two companies’ travel comparison meta search sites were geographically largely complementary and that the merged entity would still face competition from other operators such as Trivago, TripAdvisor or Google.
“The Commission, therefore, concluded that the proposed transaction would raise no competition concerns on any of the markets examined,” the Commission said in a statement.
Priceline operates online travel agents and travel comparison meta search sites such as booking.com, Kayak rental cars and OpenTable, while Momondo is primarily active in meta search sites such as Cheapflights and Momondo.
Priceline announced in February that it planned to buy Momondo for $550 million.
Source: Reuters.com