KLM Royal Dutch Airlines has withdrawn its plans to take over Nedlloyd’s
50 percent stake in Martinair.
KLM said it withdrew its bid after European Commission "expressed
serious doubts whether the transaction met the requirements of European
Union rules on competition." KLM already owns a 50-percent stake in
Martinair.
KLM said it offered to modify its proposal to insure competition on the
Dutch domestic market, but the airline and the EC could not agree on
details.
According to KLM, the end of the deal will not affect "the long-standing
relationship between KLM and Martinair."
KLM SHELVES BID FOR NEDLLOYD’S STAKE IN MARTINAIR
KLM SHELVES BID FOR NEDLLOYD’S STAKE IN MARTINAIR
