The EU Commission grants clearance to the proposed acquisition of British cruise operator by US-based cruise operator (Carnival / P&O Princess)

"Merger Control: Main developments between 1st May 2002 and 31th August 2002"* The European Commission granted clearance under the European Union’s Merger Regulation to the proposed acquisition of British cruise operator P&O Princess Plc by US-based cruise operator Carnival Corp. The Commission was initially concerned about the parties’ strong position in the cruise market in the UK and in Germany. But after an in-depth analysis it concluded that the strong growth enjoyed in the market, the absence of substantial barriers to entry and the ability for rivals in the market to shift capacity, for example from the US to the UK, would exert a sufficient competitive pressure on Carnival. On 16