Norwegian state railway company Norges Stadsbaner's proposed acquisition of a 20% stake in the Norwegian online travel agency Travel AS has been cleared by the European Commission.

Published: 14 Feb 2008

Norwegian state railway company Norges Stadsbaner's proposed acquisition of a 20% stake in the Norwegian online travel agency Travel AS has been cleared by the European Commission.

The transaction was reviewed under the EU's simplified merger review procedure for cases that the commission believes do not pose competition concerns, according to media. A Travel AS spokesman had earlier reportedly said that the company is issuing 11.3 mln nkr of new capital to NSB.

NSB will join existing stakeholders SAS AB and Reitan, which previously held 25% stakes in Travel AS, and Yatzy, which held the remaining 50%.