Aegean plays down Olympic deal approval speculation

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Greek carrier Aegean Airlines has distanced itself from local reports suggesting European regulators will clear its proposed acquisition of Olympic Air next month, saying it received no information or notification about the final decision.

Aegean outlined plans to acquire fellow Greek carrier Olympic Air just under a year ago and the European Commission - which blocked an earlier deal between the two - opened a formal probe into the deal in April. It is due to issue a final decision next month.

An article on the Greek website suggests European regulators have softened their stance on the tie-up amid the economic difficulties in the Greek market and are poised to approve the deal.

The report though has prompted Aegean to issue a statement of its own stating it has not received "any notification or information with regards to the final outcome either positive or negative" of the European Commissionprocess of investigation of our intended acquisition of Olympic Air by the European Commission. "In any case this would not be possible as the current process, as it is currently evolving, cannot produce a final outcome before early October," it adds.