The Dutch government has increased the state’s stake in airline Air France-KLM to 14% as planned, in line with the shareholding owned by Paris, the Finance Ministry confirmed.
The holding company’s share price fell almost 12% after Finance Minister Wopke Hoekstra announced on Tuesday evening, February 26, that the Netherlands was acting to exert more influence on the company and had bought an initial 12.7% stake for €680 million (US$773.9 million).
The aim, Hoekstra said, is to better guarantee Dutch public interests. “The position of Schiphol and KLM are of great importance to the Dutch economy and employment,” he said. “It involves thousands of direct and indirect jobs.”
France has been irritated by the Dutch move which was kept secret from both the airline’s board and the French government. Hoekstra is heading to Paris on Friday to explain the Dutch reasoning.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI