The Hong Kong-based airline said in February it would pay 852 million yuan ($124.8 million) for a 25 percent stake in Air ChinaCargo and provide a 817 million yuan loan for an additional 24 percent economic interest in the venture.
The venture would help the two airlines to better compete with China Eastern Airlines , which has about half of the Shanghai market after its merger with Shanghai Air.
"The Commission's market investigation confirmed that competition on this market will remain strong after the transaction, notably due to the presence of many large international airline companies active on the same routes," the European Commission said in a statement. (Reuters)
