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The ruling doesn't approve or deny the proposed Viva Avianca merger, but orders it be reconsidered by the civil aviation authority.

Now that Viva and Avianca have presented an appeal, the Colombian government has 2 months to issue a ruling.

Avianca says that it was informed by Viva's aircraft lessors about delays in the payment of their financial commitments.

The merger has yet to be approved by regulators and is opposed by some competing airline operators.

Global law firm Baker & McKenzie has launched the Cross Border M&A Index, a study in conjunction with Merger Market, which forecasts a 10% growth in cross border M&A transactions driven primarily by the US, EU, and Asian markets. Still, of the $375 billion (USD)...

Fitch Ratings announced this week that the US based ratings firm expects that favorable financing conditions and projected GDP growth of 3.5% for 2015 bode well for mergers and acquisitions (M&A) activity in the Colombian corporate sector. ‘Colombia has become a vibrant...