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UAL applies for EC approval
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September 25, 2000: 7:51 p.m. ET
United parent seeks EC consent of $4.3B takeover of US Airways
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NEW YORK (CNNfn) - UAL, parent of United Airlines, confirmed Monday that it has filed for approval with the European commission of its planned $4.3 billion acquisition of US Airways.
European competition authorities are reviewing the merger because of the size of the combined company's activities in the United Kingdom and Germany, a UAL spokesman said.
U.S. regulators must still approve the deal that has a total value of $11.6 billion and includes $1.5 billion of assumed debt and $5.8 billion in aircraft operating leases, the FT.com reported Monday.
UAL Corp. (UAL: Research, Estimates) will also present its second filing to the Department of Justice in early October. U.S. regulators then have 20 days to make their decision, a UAL spokesman said.
"We think our merger will increase competition," a UAL spokesman said.
 Elk Grove Township, Ill.-based UAL is unsure how long it will take to obtain EC approval, the spokesman said.
Arlington, Va.-based US Airways is holding a special shareholders meeting Oct. 12 to vote on the agreement. The scheduled vote comes as U.S. lawmakers and antitrust watchdogs continue to haggle over the merits of the deal.
Last week, the Senate Commerce Committee, chaired by Arizona senator John McCain voted to oppose the merger, the FT.com said.
Federal legislators have raised several concerns, however, that a merger between the world's largest carrier, United, and the No. 6 U.S. airline would lead to higher fares and fewer choices for consumers.
The merger agreement, inked in May, offers to pay US Airways shareholders $60 per share cash. But after an initial surge following the deal's announcement, US Airways shares have fallen steadily. On Monday, UAL fell $1.12 to close at $46.06. 
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