Norway greenlights Norwegian Air's $110 mln takeover of Wideroe (updated)

Sas AB

21/12/2023 16:51

(Updates with further details on the deal, background)
       OSLO, Dec 21 (Reuters) - Norway's competition watchdog
said on Thursday it has approved the planned acquisition by
Norwegian Air  NAS.OL  of domestic rival Wideroe after
previously warning it could block the deal.
    "We have now concluded that this acquisition will not
significantly hinder effective competition in the Norwegian
aviation market," said Tina Soereide, the head of the Norwegian
Competition Authority.
    The deal, valued at 1.13 billion Norwegian crowns ($110
million) was announced in July, but the competition authority
was concerned that the acquisition could significantly weaken
competition in the market.
        The merger will leave only two carriers, Norwegian Air
and SAS  SAS.ST , to compete for customers in Norway.
        However, after collecting and reviewing extensive 
    documentation
     from the parties and other players in the market, the
competition authority found insufficient grounds to stop the
acquisition, the regulator said.
  

($1 = 10.2809 Norwegian crowns)

 (Reporting by Nora Buli, editing by Terje Solsvik)
 ((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters
Messaging: nora.buli.thomsonreuters.com@reuters.net))