Gol Shares Rise After Webjet Buy Approved

September 22, 2011

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Shares of Brazilian airline Gol gained 4.3 percent on Wednesday after the country's civil aviation authority Anac approved its purchase of rival Webjet.

Gol announced in July plans to buy the airline for BRR311 million reais (USD$171 million) and assume debts of around BRR200 million reais.

The deal still requires approval by Brazil's antitrust authority Cade.

(Reuters)