Ryanair’s says it has been told its bid to take over smaller Irish rival Aer Lingus is to be blocked by Europe’s anti-monopoly watchdog.
This was Ryanair Chief Executive Michael O’Leary’s third – and he said final – attempt to buy Ireland’s former flag carrier.
The low-cost airline denounced it as “not based on competition law” but a “political” decision “to meet the narrow, vested interests of the Irish government” – which owns a quarter of Aer Lingus’ shares.
The European Commission said no final decision has yet been taken.
Following a meeting with Commission representatives, Ryanair spokesman Robin Kiely said: “It appears clear from this morning’s meeting that no matter what remedies Ryanair offered we were not going to get a fair hearing and were going to be prohibited regardless of competition rules.”
Aer Lingus said it had not been informed of any decision, but said it had always expected a rejection.
“It was and remains Aer Lingus’s position that the offer should never have been made,” it said in a statement.
Wires > Business
- 09:08 CET Oil prices fall on rising Middle East output, Asia demand concerns
- 08:50 CET UK house price growth remains slow in May – Nationwide
- 08:43 CET Locked in low gear, Asia’s factories slog against weak demand
- 08:27 CET Wolseley accelerates restructuring as demand remains subdued
- 08:25 CET Telford Homes posts profit leap, says lack of London housing will…
- 08:24 CET Halfords’ full-year pretax profit rises slightly
- 08:21 CET Taiwanese regulators clear Foxconn purchase of Sharp
- 07:54 CET Iran says oil export rise had no negative effect on market – Shana