Virgin's Branson: I will challenge BA-BMI takeover

Virgin Atlantic boss Richard Branson says he will challenge a European regulator's decision to approve the takeover of airline BMI by the owner of British Airways and Iberia.

Branson says the deal would put BA's owner, International Airlines Group (IAG), in a position of "total market dominance."

Branson said Sunday that Virgin would "challenge every aspect of this process which, if allowed to stand, will undoubtedly damage the British airline industry for years to come."

Last month the European Commission approved the acquisition of British Midlands Ltd. by IAG.

The approval is conditional on IAG giving up 14 daily takeoff and landing slots at London's Heathrow airport to boost competition.

Branson called the condition "completely inadequate."