Groups Oppose Cruise-Line Mergers
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Two consumer advocacy groups urged antitrust enforcers to challenge merger plans involving the three leading cruise lines.
P&O; Princess Cruises’ proposal to combine with Royal Caribbean Cruises Ltd., and Royal Caribbean’s hostile bid to acquire Princess would reduce competition and particularly harm retirees on fixed incomes, the groups said.
The American Antitrust Institute raised its opposition in a letter to Federal Trade Commission Chairman Timothy Muris. The National Consumers League joined in the plea.
On the NYSE, P&O; Princess American depositary receipts rose 9 cents to $24.90, Royal Caribbean fell 33 cents to $19.85, and Carnival fell 27 cents to $27.88.
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