The UK’s Competition and Markets Authority has today cleared American Express Global Business Travel’s $570 million acquisition of CWT, however the merger stills faces a regulatory hurdle in the US following an antitrust lawsuit filed by the Department of Justice (DOJ).
A statement issued by the CMA said: “The group has concluded that CWT is a significantly weaker competitor
than in the past and is likely to continue to weaken in the future and
that there are other suppliers who will offer customers an alternative
to the merged business.”
It continued: “The group is therefore satisfied that the merger is not expected to
result in a substantial lessening of competition in the global market
for the supply of business travel agency…
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
Read moreDetails
