newstodate.aero

Nov 17, 2023 (newstodate): The acquisition by Norwegian of the Norwegian regional carrier Wideroe, announced early in July 2023, is still in the balance.
   Today, The Norwegian Competition Authority has notified that it is considering intervening in Norwegian's acquisition of Wideroe, giving Norwegian respite until December 8 to respond to the notice, with the deadline for the Competition Authority's final conclusion set at January 3, 2024.
   If competition is impaired in a way that leads to increased prices and a reduced offer for Norwegian air passengers, the Competition Authority can prohibit the acquisition.
   Earlier, expectations were that the green light for completing the transaction would be given by this autumn. And visions were high..
   -We are two Norwegian airlines that have lived side-by-side for many years. Together we know the aviation market in the country very well. Now, we want to create an even better and comprehensive offer for all our passengers, and we look forward to customers being able to travel easily and seamlessly across our route networks, Geir Karlsen, Norwegian CEO said when announcing the acquisition.
   Norwegian has reacted strongly to today's NCA notification:
   -We are surprised by the Competition Authority's decision to potentially halt the acquisition. The dialogue with the authority has been good and constructive, and we have submitted extensive documentation within the provided deadlines. Based on the facts of the case, I am optimistic about the final outcome of the application process. We will now familiarize ourselves with the Norwegian Competition Authority's preliminary assessment before we respond to it, says Geir Karlsen in a statement on Oslo  Stock Exchange's website.