Booking Holdings lost its appeal against the European Union’s veto of its proposed €1.63 billion acquisition. The deal sought to purchase flight booking provider ETraveli Group for approximately $1.9 billion.
The EU General Court in Luxembourg upheld the European Commission’s 2023 decision to block the transaction on Wednesday. Judges ruled the merger would unlawfully strengthen Booking’s dominant position in the online hotel agency market.
The court rejected arguments that regulators misapplied legal standards or merger rules. Regulators concluded the acquisition would create a travel ecosystem that prevents rivals from competing effectively.
This ruling disrupts Booking’s connected trip strategy intended to integrate flights with its core accommodation business. Booking expressed disappointment and is currently reviewing a potential final appeal to the European Court of Justice.