Brazil’s antitrust authority approves merger between LAN and TAM in a unanimous vote

Brazil's antitrust regulator, CADE, has approved LAN Airlines' USD3.2 billion acquisition of TAM in a unanimous vote with the approval contingent on limiting services between Santiago and Sao Paulo. Chile's antirust regulator previously approved the acquisition on 21-Sep-2011 after imposing similar conditions of fare capping on the Santiago-Sao Paulo route until the carriers exchange four daily slots with competitor carriers. Cade's conditions required only two slots to be exchanged. LAN is currently appealing Chile's antitrust conditions with the agreement expected to close 1Q2012. [more - original PR]