The European Commission will wait for IAG and European Air to notify its services of the acquisition of all the capital stock of the Globalia airline by the British firm to make the pertinent analysis on compliance with the European Competition rules.
This transaction has not been formally notified to the European Commission. It is always up to the companies to notify transactions with a European dimension to the European Commission, «Community Executive spokesman Daniel Rosario said in a press conference.
Once notified, Brussels has a period of 25 days to analyze the operation and decide whether to give its approval (without conditions or accepting a series of commitments) or open a second stage of the investigation to carry out a more in-depth evaluation.
If the Commission decides to open this second phase, it has a period of 90 days to make a decision, although this calendar may be extended for another 15 days if either party proposes additional commitments to Brussels to resolve any doubts that the European authorities may have.