EU Blocks Booking's Acquisition of ETraveli, Citing Competition Concerns; Booking to Appeal

EU antitrust regulators blocked Booking's proposed $1.7 billion acquisition of ETraveli Group, concerned it would increase Booking's dominance in online travel bookings.
The European Commission stated that remedies offered by Booking were insufficient to address antitrust issues.
Booking said it will appeal the decision, arguing the EU was wrong on facts and law.
The veto suggests increased EU scrutiny of mergers in digital markets to promote competition.
Analysts say the decision shows the EU's intent to apply new antitrust rules to European tech giants.