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EU expects to approve United acquisition of Continental next week

23-Jul-2010 10:26 AM

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.