EU Concerned By KLM Move To Buy Out Moller-Maersk's Share Of Martinair - Report

AMSTERDAM (Thomson Financial) – The European Commission is concerned over Dutch airline KLM-Air France’s intention to buy out co-owner Moeller-Maersk’s shares in Martinair — a move which Martinair says would see KLM become ‘too dominant’ on the Dutch market, according to financial daily Het Financieele Dagblad.

KLM-Air France wants to buy the remaining 50 pct from Danish transport group AP Moeller Marsk, which wants to sell its stake.

The paper says other companies have expressed an interest in the Moeller-Maersk stake and said they are also keen on buying a part of the KLM-Air France share to obtain a majority of the shares.

A spokesperson for KLM responded that it is not interested in selling part of its share.

The stalemate has existed for eight years; P&O; Nedlloyd, which held the shares at the time and subsequently sold them to Moeller Maersk, wanted to sell its stake to KLM.

KLM was interested in buying the share, but the EU prevented the deal from going ahead.

antonia.vandevelde@thomson.com

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EU concerned by KLM move to buy out Moller-Maersk’s share of Martinair – report