EU blocks Booking’s €1.6B takeover of online travel agency Etraveli

The EU Commission has blocked Booking’s €1.6bn takeover of Swedish online travel agency Etraveli, citing competition concerns. “Booking’s acquisition of Etraveli would strengthen Booking’s dominant position in the online travel agencies market and likely lead to higher costs for hotels and, possibly, consumers,” said Didier Reynders, Commissioner for Justice. According to the Commission, Booking is already the leading online hotel agency in the EEA, accounting for a 60% share of the total market. Meanwhile, Etraveli is the number two provider of flight services. The merger would, therefore, enable the travel giant to broaden its travel services ecosystem, increase traffic on…

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