EU set to veto Booking purchase of Etraveli: source
THE European Union is expected to block US online travel agency Booking’s 1.63-billion-euro (S$2.38 billion) bid to buy Sweden’s Etraveli Group, a source close to the matter told AFP on Friday (Sep 22).
The European Commission, the bloc’s powerful antitrust enforcer, launched an investigation in November last year amid concerns the acquisition would allow Booking to become too dominant in the market for finding hotels and other accommodation online.
A decision could come as soon as Monday, the source said.
Booking.com is headquartered in Amsterdam but it is a subsidiary of Booking Holdings, which is based in the United States.
It is one of the largest online travel agencies in Europe.
Gotogate and MyTrip are just some of Etraveli’s online travel agencies.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
In June, the European Commission had already expressed multiple concerns about the purchase in 2021 including worries over its impact on competitors and whether the deal would lead to higher costs for hotels or customers.
Booking’s other online travel brands include Kayak, Priceline, and Agoda.
Brussels has sent a warning known as a “statement of objections”, which said the deal could divert demand from cheaper alternatives.
“Competition is already limited in the hotel OTA (online travel agencies) market and Booking appears to be unconstrained by competing OTAs, hotels and end customers,” it said in June. AFP
Share with us your feedback on BT's products and services
