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Australia clears Expedia's $610 mln Wotif.com takeover
October 1, 2014 / 11:24 PM / 3 years ago

Australia clears Expedia's $610 mln Wotif.com takeover

SYDNEY, Oct 2 (Reuters) - Australia’s antitrust regulator on Thursday cleared online travel giant Expedia Inc to buy smaller local rival Wotif.com Holdings Ltd for A$699 million ($610 million).

The Australian Competition and Consumer Commission (ACCC), which had earlier raised concerns about the deal, said the acquisition was unlikely to diminish the dynamic nature of the online accommodation distribution market. (1 US dollar = 1.1456 Australian dollar) (Reporting by Byron Kaye and Lincoln Feast; Editing by Stephen Coates)

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