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23-Jul-2010 10:26 AM

EU expects to approve United acquisition of Continental next week

United Airlines is expected to gain unconditional European Union approval next week for its USD3.17 billion acquisition of Continental Airlines (Reuters, 22-Jul-2010). The move would form the world's larger carrier, with a network of 370 destinations worldwide and annual sales and cost benefits of USD1 billion-1.2 billion by 2013. The EU has set 27-Jul-2010 as the deadline for the decision, with the airlines expected to close the deal by the end of 2010.