Ryanair’s 29 percent stake in Irish airline Aer Lingus for sale
Budget airline maintains that they would sell their stake if they were approached
Ryanair Holdings made the decree on Tuesday to sell its 29% stake in Aer Lingus in the event of an “agreed takeover” of the Irish airline. This was said in response to the UK’s antitrust regulator’s request that Ryanair reduce its holdings in Aer Lingus so as to avoid stifling competition and the prevention of a sale of Aer Lingus.
In a report from The Wall Street Journal, Ryanair is quoted as saying that it would “unconditionally sell its 29% shareholding to any other [European Union] airline that makes an offer for Aer Lingus and obtains acceptances from 50.1% of Aer Lingus shareholders."
Even with this pledge, however, it is unlikely that the UK regulator will accept this proposal. Considering that a “rival airline could only acquire a 50.1% Aer Lingus stake if existing shareholders other than Ryanair sold their shares.”
The other shareholders in Aer Lingus are the Irish Government at 25% and Etihad Airways with 3%. With Ryanair’s 29% holding, the largest of the independent shareholders, the UK’s Competition Commission could make the argument that “while Ryanair's stake does not prevent an alternative EU airline from gaining majority control it could prevent it from obtaining a strategic stake.”
The commission will conclude its investigation into the matter by September 5 and industry experts expect that its findings will determine that Ryanair’s Aer Lingus stake is anticompetitive. If this proves to be the case, Ryanair can appeal this decision at the Competition Appeal Tribunal in London.
The airline is currently appealing a decision made by the regulator to block its 906.4 million (694m euros) takeover offer for Aer Lingus. The proposal was swatted down by the European Commission, an antitrust watchdog for the EU.
- An open letter in strong defence of capitalism.
- Sarah Palin is saving Christmas
- Racist incidents in Ireland up by 85 percent...
- Gay teacher fired from Catholic school after...
- Virginia governor slammed by doctor over...
- Irish drugs mule to escape full trial and...
- Nelson Mandela was against IRA decommissioning.
- Top Christmas Irish ads that will be bring...
- Irish radio presenter suspended after anti-Isra
- Families as well as Catholic Church and governm
Quoting Churchill to an Irish audience to make a point is not the silliest part of this sad missive. Like so many "Conservatives" Conboy mBill O’Reilly slams Nelson Mandela as an unrepentant “communist”
Obama is not a socialist, that is why you got ACA run by private insurance companies instead of Single Payer. I know he's not a socialist because I amUnionists regret US envoy Haass’ call for new flag for Northern Ireland (VIDEO)
More 'fried brain' nonsense...A sibling of an Irish person...is Irish...stay out of the Sun, 'n keep trying, cobber!!!Gay teacher fired from Catholic school after applying for same-sex marriage license
Hi alisaann, in truth, the ones who lose the most are the children. Marriage affords most people a means to bequeath possessions to the family without