EU set to block Booking’s purchase of Etraveli

Regulators are concerned deal would consolidate US travel site’s market position and hurt rivals

According to sources with inside information, European Union regulators are on the verge of denying US online travel giant Booking Holdings' €1.63bn bid to acquire Sweden's Etraveli Group. Their main apprehension revolves around the potential consolidation of Booking's market dominance and its potential adverse effects on competitors.

Key takeaways

In November 2021, Booking made public its intention to purchase Etraveli, the parent company of popular brands like Gotogate and Mytrip, currently under the ownership of private equity heavyweight CVC.

EU regulators harbor concerns that the merger between Booking and the specialized flights-only Etraveli Group would lead to an even more pronounced monopoly in the travel industry, which could negatively impact other industry players.

This decision stands in contrast to the UK's Competition and Markets Authority, which greenlit the acquisition a year ago.

Get the full story at the Financial Times