The European Commission has cleared under the EU Merger Regulation the proposed acquisition of sole control over the UK company Gold Medal International, an independent leisure travel group, by Thomas Cook Group of the UK. The Commission found that the activities of Thomas Cook and Gold Medal are largely complementary and that the proposed transaction would lead to overlaps solely on the markets for short-haul and long-haul foreign package holidays. In these markets, the increment brought about by the acquisition of Gold Medal is very limited. The Commission's investigation found that the parties would continue to face several effective competitors with significant market shares and that the proposed concentration would thus not raise competition concerns.