EU regulators set new Feb. 14 deadline for Korean Air, Asiana deal

Credit: REUTERS/Kim Hong-Ji

By Foo Yun Chee

BRUSSELS, Dec 6 (Reuters) - EU antitrust regulators have set a new Feb. 14 deadline to decide whether to clear Korean Air's003490.KS proposed acquisition of Asiana Airlines 020560.KS, according to an update on the European Commission website.

The EU competition enforcer temporarily halted its investigation into the deal on June 23 while waiting for the companies to provide requested information.

"There is very good progress with some proposals," EU antitrust chief Didier Reynders told reporters.

Korean Air, the country's biggest carrier, last month offered remedies to address EU competition concerns. This included the sale of Asiana's cargo business. Sources said the package also included the divestment of routes to Barcelona, Frankfurt, Paris and Rome.

The Commission is now expected to seek feedback from customers and rivals before deciding whether to accept the remedies or demand more.

(Reporting by Foo Yun Chee; Editing by Sandra Maler)

((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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