German Regulator Against TUI Travel Cross-Shrholding

"Germany's federal cartel office wasn't in favor of the original plan for a cross-shareholding between Air Berlin PLC and TUI Travel PLC, a person close to the matter told Dow Jones Newswires Tuesday. The cross-shareholding was part of a planned cooperation between Air Berlin and TUI Travel's German arm TUIfly. The regulator was concerned about the informal market power of the respective administrative boards, the person said. The cartel office wasn't immediately available for comment."
Source: Dow Jones News Service