Global Competition Review: China Conditionally Clears Korean Air/Asiana With Hybrid Fix
January 3, 2023
China’s State Administration for Market Regulation has conditionally approved Korean Air’s proposed purchase of a majority stake in Asiana Airlines. The two companies agreed to a number of structural and behavioral changes to gain approval. The transaction has been cleared by competition authorities in Australia, Malaysia, Turkey, Taiwan, Vietnam, and Singapore, but remains under review in the US, European Union, and Japan. Asiana is represented by Philip Monaghan, Lining Shan, and Vivian Wang of O’Melveny & Myers LLP.
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