The Herald of Everett, Washington
Customer service  |  Subscribe   |   Log in or sign up   |   Advertising information   |   Contact us

The top local business stories in your email

Contact Us:

Josh O'Connor
Phone: 425-339-3007

Maureen Bozlinski
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049

Jim Davis
Phone: 425-339-3097

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

UK orders Ryanair to cut stake in Aer Lingus

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
DUBLIN -- British competition authorities have ordered Ryanair to sell its stake in Aer Lingus, a ruling that could deal a fatal blow to Ryanair's 7-year campaign to acquire its main Irish rival.
Ryanair vowed to appeal Wednesday's judgment by the United Kingdom Competition Commission. Ryanair chief Michael O'Leary called it "bizarre."
The commission ordered Ryanair to reduce its 30 percent holding in Aer Lingus to 5 percent to eliminate what it described as Ryanair's ability to "impede or prevent" Aer Lingus' acquisition by any other airline.
Ryanair has launched three failed takeover bids since Ireland's government privatized the state-owned airline in 2006.
Ryanair is Aer Lingus' largest shareholder, while the government has retained a 25 percent stake. The government says it's willing to sell its shares, but not to Ryanair.
Story tags » Europe



Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup