Irish Government to talk to EU on Ryanair Aer Lingus bid
13.10.06
The Irish Government is to meet with European competition regulators next week to discuss Ryanair's bid for Aer Lingus, the Examiner newspaper reports. The Government, which owns 28% of Aer Lingus, is opposed to the takeover, but stressed the discussion is not aimed at halting the deal.
An Irish diplomat told the newspaper: 'There will be preliminary discussions at official level next week with the commission on the competitiveness aspects of the deal. It is certainly not the case that the meeting is aimed at stopping the deal. The minister is wearing two hats and is very constrained in what he can say as he is both a shareholder and a member of the Government.'
It is almost certain that regulatory review of the proposed takeover will be conducted by Brussels and not the Irish Competition Authority. Ryanair is said to be confident that it will get approval for the takeover given that the EU has approved mergers that led to larger airline groups.
The next step in Ryanair's €2.80 a share bid for the airline is expected next week with the publication of its offer document. It had been expected yesterday, but sources said it is likely to be another few days at the earliest.
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