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PRIVACY
Enterprise

Investigation launched into €1.63bn Booking.com deal

The deadline for comments has been set at July 25

The deal was first announced in November 2021(Image: AFP via Getty Images)

A probe has been launched into a €1.63bn deal which saw Booking.com agree to acquire a global flight reservations provider.

It was announced in November 2021 that Booking Holdings had entered into an agreement with CVC Capital Partner to buy Sweden-headquartered Etraveli Group.

However, the º£½ÇÊÓÆµ's Competition and Markets Authority (CMA) has now launched an investigation into the deal over concerns it may lead to a "substantial lessening of competition".

READ MORE: Booking.com boss aiming to 'solve the most complicated problem in travel' as firm adds hundreds of jobs

A CMA statement said: "The Competition and Markets Authority is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

"To assist it with this assessment, the CMA invites comments on the transaction from any interested party. "

Booking.com's º£½ÇÊÓÆµ headquarters is based in Manchester. The deadline to comment on the CMA's investigation is July 25.

Speaking in November, Booking Holdings' chief executive Glenn Fogel said: "As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers."