Irish Transport Minister vows to block Ryanair’s Aer Lingus bid
02.05.11
Irish Transport Minister Leo Varadkar vowed last night to block any attempt by Ryanair to take over Aer Lingus, the Irish Independent reports. Mr Varadka was speaking after it emerged Ryanair had sent him a letter to remind him of its interest in buying the Government's 25 percent stake in Aer Lingus.
The Irish Government has said it will sell the shares in order to pay down its debt. However, Mr Varadkar said the European Commission had already ruled against Ryanair taking over Aer Lingus on competition grounds, and that he would also seek to block a fresh takeover attempt.
Given that the Irish Government would like to sell the shares, and a Government spokesman said yesterday it would seek 'maximum value' for them, it is difficult to see who else would buy the shares. Especially with Ryanair already sitting on a 29 percent stake in Aer Lingus.
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