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Brazil’s airline Gol gets first OK to buy Varig

5 April 2007

Brazil’s civil aviation authority said on Wednesday that it gave low-cost airline Gol Linhas Aereas Inteligentes the green light to buy rival air carrier Varig.

The National Civil Aviation Agency or ANAC said it gave Gol “advance authorization” for the deal. Gol now still requires approval from Brazil’s anti-trust agency Cade, ANAC said in an on-line statement.

source: Reuters

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