Booking Blocked From Buying Swedish Travel Site Etraveli. It Will Appeal.

The European Union is blocking online U.S. travel company Booking from acquiring the Swedish site Etraveli, arguing it would allow the company to reduce competition and increase prices.

The European Commission said it would prevent the transaction from taking place because it would make Booking too dominant in Europe. The company’s attempts to address the EU’s concerns weren’t enough to persuade it to allow the merger, it said in a statement. Booking said separately that it would appeal the decision. Shares of Booking were up 0.2% in premarket trading Monday.

The $1.8 billion deal to buy Etraveli, which is owned by CVC Capital Partners, was announced in November 2021.

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