EU Commission blocks Booking’s planned acquisition of flight booking provider Etraveli

BRUSSELS (AP) — The European Union’s executive arm is blocking leading U.S. online travel agency Booking from acquiring Sweden’s flight booking provider Etraveli Group. The European Commisson says the deal would have allowed Booking to increase its dominant position on the market on the continent. The Commission said Monday it had warned Booking Holdings about its concerns but that the remedies offered by the company were not sufficient. Booking’s brands include Booking.com, Rentalcars, Priceline and Agoda. Following its investigation, the Commission said it found out the proposed 1.63-billion-euro ($1.8 billion) deal would have led to higher costs for hotels, and possibly, a negative impact on the price paid by consumers.