Booking’s €1.6 Billion Etraveli Deal Blocked by EU
- EU says deal would have hurt market for online travel agencies
- Vetoes are rare as remedies usually solve antitrust concerns
The Booking Holdings website.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Booking Holdings Inc.’s €1.6 billion ($1.7 billion) takeover of Sweden’s Etraveli Group was blocked by the European Union, after merger regulators concluded that the proposed acquisition would harm the market for online travel agencies.
The European Commission said on Monday that the deal would have strengthened Booking’s dominant position and risked “higher costs for hotels and, possibly, consumers.”