Carnival Faces EU Probe of Deal
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Carnival Corp., the world’s biggest cruise line, faces a four-month antitrust probe by the European Union on the proposed acquisition of P&O; Princess Cruises, the No.3 cruise line, amid concern the combination might dominate the cruise travel market in Europe.
Miami-based Carnival might be forced to sell assets to complete the acquisition as a result of the EU’s investigation.
London-based P&O; has been trying to block Carnival’s advances by pursuing a combination with No.2 operator Royal Caribbean Cruises Ltd.
Carnival’s shares fell 57 cents to $32.40, Miami-based Royal Caribbean declined 18 cents to $22.33, and P&O; Princess rose 6 cents to $27.40, all on the NYSE.
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