OFT won’t open IAG deal probe...

BRITISH Airways parent IAG has come a step closer to buying loss-making carrier BMI, after the UK consumer watchdog said it will not review the proposed deal.

The Office of Fair Trading said there was no need for a fresh investigation, given that the European Commission is already looking into the acquisition, worth up to £172.5m.

The EC, which is working with the OFT on its probe, has until 16 March to make its decision. Last month it received an official complaint about the deal from rival Virgin Atlantic.