Manufacturing Industry
EU to review proposed merger between KLM and Air France
Airline Industry Information, Jan 5, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
The European Union has reportedly launched a review of the proposed takeover of KLM Royal Dutch Airlines by Air France.
The European Commission has said that it received notification on 18 December 2003 from the two airlines about the planned takeover. The airlines are hoping to form the EUR3.4bn merger in early April 2004, which will reportedly create the world's largest airline in revenue terms.
The EU executive initially has about one calendar month from notification to decide whether to clear the merger or launch an in-depth four month probe, according to Reuters.
((Comments on this story may be sent to aii.feedback@m2.com))
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