European court blocks Booking Holdings acquisition of Etraveli

Europe’s General Court has upheld a decision prohibiting Booking Holdings from acquiring Swedish flight specialist Etraveli in a deal valued at approximately €1.63 billion ($1.9 billion). The court ruled that the acquisition would be anticompetitive, potentially reinforcing Booking’s market dominance in the European travel sector.

Judges determined that flight bookings serve as a low-margin customer acquisition channel used to drive travelers toward Booking’s high-margin hotel services. The ruling suggests that allowing the merger would strengthen Booking’s position in the core hotel market, where the European Commission has already identified the company as holding a dominant position.

This decision sets a precedent for how European regulators evaluate vertical integration and superapp strategies. It may increase scrutiny for major technology firms and travel companies attempting to expand their market reach through strategic acquisitions in Europe.

In the broader travel sector, Expedia Group has continued its expansion through acquisitions, including Tiqets and Cartrawler, to bolster its business-to-business operations. Meanwhile, several travel-related stocks, including Booking Holdings and Expedia Group, remain under market observation due to shifting consumer demand and economic conditions.