Aegean Airlines is attempting once more to take over Greek rival Olympic Air, although the European Commission blocked a previously planned merger between them in January 2011. Marfin Investment Group has agreed to sell all the shares of Olympic Air to Aegean Airlines for €72 million.

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The European Commission has decided to prohibit the proposed merger of Greek carriers Olympic Air and Aegean Airlines, following a monopolies investigation which lasted 10 months.

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The main shareholders of Greek airlines Aegean Airlines and Olympic Air have agreed a merger which, if the deal is permitted by the European Commission, would result in the formation of a new company to be listed on the Athens Exchange.

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