Chile court removes LAN-TAM takeover hurdle
Chile's Constitutional Tribunal (TDLC) removed a key obstacle to LAN's planned takeover of TAM , according to a 01-Sep-2011 Reuters report. The court announced it would not take up a complaint lodged by PAL Airlines against the takeover. Chile's anti-monopoly regulator TDLC is probing the takeover plans after a consumer group in Chile questioned it. It is widely expected to approve the takeover.
LAN: "We thought the biggest issue was getting approval on the Brazilian side, but on the Brazilian side, we are already set. Right now, we're trying to cover legal things in Chile to make sure everything is covered and there's nothing left loose in this merger. We're confident this will happen, hopefully between the fourth quarter of this year and the first quarter of next year. We're looking forward to it." Pablo Chiozza, VP. Source: Business Travel News, 01-Sep-2011.