€ 1.5 billion hostile to Ryanair takeover bid for Aer Lingus

Yesterday, the highest court of the European Union supported the 2007 decision by the European Commission's € 1.5 billion hostile to Ryanair takeover bid for Aer Lingus on the basis that such a move would significantly impede competition designed to block 35 routes and consumers.

But to deny the appeal Ryanair, the court rejected a separate appeal with the Court of Aer Lingus, which asked the court for a decision by the European Commission that Ryanair can not be forced to sell his shares will be declared invalid 29.8pc Aer Lingus after EU regulations to control merger.

Aer Lingus said yesterday it will examine the ruling in detail before you call the new appeal to the court.

Do not force Ryanair to sell its stake, the decision of the court Aer Lingus will receive a minority stake in the airline remains a daunting task, especially in the current circumstances.

Any other airline was interested in a more Aer Lingus was with Ryanair, this initiative will block any seizure could negotiate.

However, Ryanair CEO Michael O'Leary said earlier that they are ready, will sell shares in Aer Lingus, Ryanair, if deemed price was right.

Ryanair, 2007 ruling of the European Commission through the blockade of its original proposal attractive, but despite this, we go with the second attempt of Aer Lingus in 2008 to purchase failed, even after the government, which owns 25pc airline rejected the first, € 40 per share offer .

depends on its first bid in 2006, a few days after Aer Lingus on the stock exchange, Ryanair offered € 2,80 per share. Aer Lingus shares currently trading slightly more than 80 cents.

Ryanair has about 400 € to collect their share in Aer Lingus dropped the most part, the company's rating by almost € 100 million.

Mr. O'Leary said yesterday that the court would not prevent Ryanair Aer Lingus bid for the third, but added: There are no immediate plans for such a step.

Success

"In any case, [it] will have little chance of success if the Irish Government decided to sell its share of 25pc", it added.

Aer Lingus chairman Colm Barrington Court yesterday welcomed the proposal to Ryanair in 2006.

"It is regrettable that the court is not possible, then the next step necessary to ensure competition, the minority shares of Aer Lingus, Ryanair, to be held in conflict with the interests of the majority of shareholders accepted.

- John Mulligan

Irish Independent