Norwegian Air up as Norway greenlights Wideroe takeover

Sas AB

22/12/2023 08:52

** Shares in Norwegian Air Shuttle  NAS.OL  rise 4.4% after
the Norwegian Competition Authority (NCA) on Thursday said it
had approved the carrier's acquisition of rival Wideroe, after
previously warning it could block the deal
    ** The deal, valued at NOK 1.13 billion ($110.4 million),
was announced in July, but NCA was concerned it could
significantly weaken competition in the market
    ** The deal will leave two carriers, Norwegian Air and SAS
 SAS.ST , competing for customers in Norway
    ** The Norwegian Air shares are up 53.5% YTD and on track
for their biggest daily increase since early November if gains
hold

($1 = 10.2357 Norwegian crowns)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))