P&O/Stena link set for UK and European approval
Monday 17 November 1997
After a year of waiting, P&O and Stena, the ferry companies, look set to get the green light for their proposed tie-up from both the UK and European competition authorities this week. A spokesperson for P&O said: "We have heard nothing officially, but all the indications are that there will be an announcement on Wednesday or Thursday."
However, the proposed joint venture, to be called P&O Stena Line, is expected to be allowed to proceed only if the two companies agree to certain conditions designed to alleviate competition authority concerns. The competition authorities are likely to impose caps on brochure prices, to require that P&O and Stena surrender ferry berths at Dover and to insist that the joint venture, which will control around 75 per cent of ferry crossings from Dover, is run separately from the companies' other operations.
A P&O spokesperson said yesterday that it would be premature to speculate about the conditions to be imposed, but admitted that the European authorities, in particular, had been concerned to ensure that the joint venture would be independently run.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...