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Referral request concerning the proposed acquisition of Olympic Air by Aegean Airlines, following an

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07-Nov-2012 Referral request concerning the proposed acquisition of Olympic Air by Aegean Airlines, following an invitation by the European Commission, in accordance to Art. 22 of the EC Merger Regulation

Referral request concerning the proposed acquisition of Olympic Air by Aegean Airlines, following an invitation by the European Commission, in accordance to Art. 22 of the EC Merger Regulation

The Hellenic Competition Commission (HCC) decided unanimously, at its 73rd Meeting, to accept the invitation by the European Commission pursuant to Art. 22 par. 5 of the EC Merger Regulation and make a referral request to it with regard to the proposed acquisition of Olympic Air by Aegean Airlines.

In particular, the HCC found that the conditions for a case referral under Article 22 of the EC Merger Regulation are met, given that the concentration is liable to have a discernible influence on the pattern of trade between Member States and to affect significantly competition in relation to distinct product markets in Greece and in another Member State. Furthermore, the HCC found that such a referral is warranted in the specific circumstances of this case, notably due to the fact that the European Commission had previously reviewed the parties' attempted merger in 2010 and possesses specific expertise concerning the restructuring of the airline industry at EU level.

The HCC will continue to cooperate with the European Commission on this case.