Shares of Chile's LAN Airlines LAN.SN (LFL.N) fell sharply on Wednesday, a day after the airline said a ruling by antitrust regulator TDLC was flawed and requested the tribunal rectify calculations. Chile's antitrust tribunal last week gave conditional approval to the takeover, paving the way for the creation of one of the world's biggest airlines, but asking the merged entity to comply with a host of conditions. Here are some of the next steps expected in the planned takeover, according to sector experts and LAN's statement to the Chilean Securities and Insurance Superintendency (SVS) in January: * LAN has asked TDLC to rectify "numerical errors" in calculations of its national and international tariffs, or yields. "The company has presented a request to the TDLC today which rectifies numeric calculations in the ruling ... regarding yields (fares per kilometer on each route)," LAN said on Tuesday. * LAN could go to Chile's supreme court to appeal the mitigation measures. Local airline PAL could also appeal to the supreme court after Chile's Constitutional Tribunal said earlier this month it would not take up its complaint against the takeover. An appeal would likely delay the tie-up.
Lan Airlines SA (LAN) is a Chile-based passenger airline and air cargo operator. Shares of LFL fell by 3.92% or $-0.94/share to $23.04. In the past year, the shares have traded as low as $21.19 and as high as $32.68. On average, 455543 shares of LFL exchange hands on a given day and today's volume is recorded at 305704.
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