LAN-TAM merger to undergo antitrust review in Chile

Shares in LAN Airlines and TAM shares fell on Friday, as the Chilean antitrust regulator announced it will proceed with a review of their planned merger. A probe would take six to nine months. LAN reportedly stated the investigation could delay the deal, stating even if it were approved by the end of 2Q2011, the companies would not be able to merge before 4Q2011. Shares in TAM were 4% lower, while LAN Airlines shares declined by 0.5%.

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