Shares in Chilean airline LAN LAN.SN (LFL.N) and Brazilian carrier TAM (TAMM4.SA) rallied on Wednesday morning ahead of an expected ruling by Chile's antitrust regulator on a tie-up between the two companies. The market is betting LAN's takeover of TAM will be approved, though the regulator, TDLC, is expected to require that LAN take certain measures to ensure fair competition. Shares in LAN were up 1.36 percent, outpacing Chile's IPSA blue chip index .IPSA, which was trading 0.12 percent weaker. Shares in TAM rose 3.06 percent, outpacing Brazil's benchmark Bovespa index .BVSP, which was up 0.9 percent.
Lan Airlines SA (LAN) is a Chile-based passenger airline and air cargo operator. Shares of LFL traded higher by 1.11% or $0.29/share to $26.52. In the past year, the shares have traded as low as $21.19 and as high as $32.68. On average, 423563 shares of LFL exchange hands on a given day and today's volume is recorded at 21207.
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