It now seems that Jetset shareholders have voted in favor of of the proposed merger with Stella Travel Services. Reports show that an overwhelming 99 percent of the international and domestic travel agency’s shareholders did vote in favor of this move. About 58 percent of the votes came from Qantas.

This merger is suppose to be completed by the end of this month. However, before that can happen it has to be approved by the Foreign Investment Review Board. A go single will give these travel companies more than 2500 shops across all of Australia.

Jetset operates Qantas Holidays and Qantas Business Travel. On the other end of the stick, Stella, includes such key brands as Travelscene, American Express, BestFLights, Harvey World Travel, Travel 2, ATS Pacific, and Travel Indochina.

The combined entity will give Qantas a 29 percent share. Stella’s majority owner, CVC will hold a 26.9 percent stake in the merger company. The Investment bank UBS will hold a 17.9 percent stake in the company.

The chairman of the Australian Competition and Consumer Commission, Graeme Samuel, said that the commission found that the merged Jetset and Stella entity and its member agents are likely to face continued and increasing competition from online travel agents. They will also face competition from direct supply by airlines and hotels, as well as the largest travel retailer in Australia, Flight Center.

Overall, this means that it is very likely that the two companies will be approved for the merger. Officials like to make sure that competition will still be in the cards after two companies merge. However, according to the Australian Competition and Consumer Commission, this will not be a problem with this merger.