Reuters: Deals: BA owner IAG offers EU concessions for bmi buy

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BA owner IAG offers EU concessions for bmi buy Mar 12th 2012, 10:54 BRUSSELS | Mon Mar 12, 2012 6:54am EDT BRUSSELS (Reuters) - British Airways owner IAG (ICAG.L) has offered concessions to EU antitrust regulators in a bid to get regulatory approval for its takeover of Lufthansa's (LHAG.DE) British unit bmi, the European Commission said on Monday. The Commission, tasked with ensuring a level playing field in the 27-country European Union, did not provide details of the concessions, in line with its usual policy. It extended the deadline for a decision on the deal to March 30 from March 16, the EU executive's website showed. The bmi takeover would boost IAG's share of runway slots at London Heathrow airport to about 52 percent from 43.1 percent, allowing it to launch lucrative new long-haul routes. Rival and failed bmi bidder Virgin Atlantic VA.UL has urged antitrust regulators to veto the deal, saying it would harm competition and push up prices.

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