Aer Lingus fail to stop Ryanair ‘interference’
19.03.08
A European court has rejected an attempt by Aer Lingus to stop what it calls ‘interference’ by its Irish rival, and large shareholder, Ryanair. It was seeking to block Ryanair from using its voting rights, in the latest twist to a vicious takeover battle.
Aer Lingus turned to the court after the European Commission said in October it could not force Ryanair to cut its 29.4 percent shareholding. The airline said in a statement: ‘The President of the Court of First Instance in Luxembourg has today declined our request for an interim order restricting Ryanair from interfering in the running of our business.'
A spokesman for Aer Lingus said: ‘This decision only dealt with the request for an interim order and Aer Lingus' appeal against the Commission's decision still remains to be determined by the Court.’
The Commission, which has the power to regulate large mergers in the 27-nation EU, blocked a Ryanair takeover bid for Air Lingus last June, saying they would together dominate European routes out of Dublin. Ryanair has appealed that decision at the Court of First Instance, saying the Commission's opposition to the takeover was 'unlawful and politically motivated'.
A Ryanair spokesman said: ‘We welcome the decision from the court which confirms the European Commission's findings that Ryanair has no control over Aer Lingus.'
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