Lufthansa take-over wrap: Austrian progressing, bmi hits snag, Brussels Airlines delay – Share Wrap

The World's Favourite (white knight) Airline, Lufthansa, confirmed on Friday it has filed for European Commission approval for its planned takeover of Austrian Airlines. Lufthansa's shares rose 2.4% on the day, while Austrian Airlines closed 2.1% higher. The Commission, which launched an investigation into the takeover in Feb-2009 over pricing and state aid concerns, has set a deadline for the first phase review of the case of 17-Jun-09. That puts it in the midst of key milestones in Lufthansa's bids for bmi and Brussels Airlines.