Green light for Scandic takeover

The European Commission has cleared the acquisition of Scandic Hotels by UK-based Hilton Group. It said the hotel businesses of the two companies were "to a very large extent complementary". Hilton's focus was on the UK and major cities on the Continent, while Scandic's hotels are almost all in the Nordic region. Hilton has only one overlapping hotel, in Copenhagen, Denmark. The commission said the proposed takeover "does not lead to the creation or strengthening of a dominant position as a result of which effective competition would be significantly impeded". Hilton made the bid for Scandic in April this year. It was recommended to shareholders by the Scandic board.