Booking Holdings down after losing court fight against EU's blocked ETraveli acquisition
BKNG•Shares fall after EU antitrust loss
Shares of online travel agency Booking Holdings BKNG.O fell nearly 2% to $176.80 premarket after the company lost its fight against an EU antitrust veto of its €1.63 billion ($1.90 billion) ETraveli acquisition three years ago.
Luxembourg-based General Court agreed with the EU competition enforcer. The EU's 2023 decision said the deal would have created a travel ecosystem for Booking, leaving rivals unable to compete.
The company said it is reviewing a possible appeal to the European Court of Justice.
Broker ratings and year-to-date performance
34 of 41 brokerages rate the stock "buy" or above, while seven rate it "hold"; the median price target is $240, according to data compiled by LSEG.
As of the last close, the stock had fallen 15.83% year to date.
