Key condition of acquisition now satisfied, with completion set for 31 March.
The Australian Competition and Consumer Commission this morning confirmed it would not oppose the proposed acquisition of the corporate travel operations of Helloworld Travel Limited by Corporate Travel Management.
The ACCC said its review mainly focused on competition for large corporate and government customers, with Chair Rod Sims saying the deal was “unlikely to result in a substantial lessening of competition”.
“Large travel management customers told us that there are a range of competitors that would be capable of servicing their needs, including Flight Centre and Amex GBT,” Sims said.
CTM said the decision means a key condition of the acquisition has been satisfied, adding that “the parties continue to work effectively together to satisfy the remaining conditions”.
More details in today’s issue of Travel Daily.