European regulators halted their in-depth antitrust investigation into Boeing’s plan to invest in Embraer, stating they had not received sufficient information from the planemakers, reported Bloomberg.
The European Commission has been investigating the venture, warning that the deal could remove Embraer as the third largest global competitor to both Boeingand Airbus, which “may, therefore, result in higher prices and less choice.”
The Commission, one of the world’s toughest merger regulators, announced on Monday, November 11, that it “stopped the clock,” and a review could only be restarted once it gets the answers it needs.
The heightened scrutiny puts new pressure on Boeing’s plan to take an 80% stake in a venture controlling Embraer’s commercial airplane and services businesses.
The Commission had initially set a February 20 deadline for a ruling on the deal, and then extended its timing until March 5, before the review was suspended.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.