Norway greenlights Norwegian Air’s $110 mln takeover of Wideroe
Norway’s competition watchdog said on Thursday it has approved the planned acquisition by Norwegian Air of domestic rival Wideroe after previously warning it could block the deal.
“We have now concluded that this acquisition will not significantly hinder effective competition in the Norwegian aviation market,” said Tina Soereide, the head of the Norwegian Competition Authority (NCA).
The deal, valued at 1.13 billion Norwegian crowns ($110 million) was announced in July, but the competition authority was concerned that the acquisition could significantly weaken competition in the market.
The merger will leave only two carriers, Norwegian Air and SAS, to compete for customers in Norway.
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Wideroe is Scandinavia’s largest regional-only airline, serving short-haul routes in a sparsely populated region with few train lines and challenging geography.
“We are very happy with today’s decision from the NCA and that they have taken our inputs into account,” said Geir Karlsen, CEO of Norwegian.
Stein Nilsen, CEO of Wideroe, which will continue to operate as a separate airline and brand, said he was looking forward to working with Norwegian and ensuring critical public infrastructure remains in Norwegian ownership.
“I couldn’t wish for a better Christmas present,” he added.
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