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Ryanair: EU will block Aer Lingus bid

26 June 2007

Ryanair Holdings PLC, Europe’s largest low-cost airline, said Tuesday that it expects the European Commission to block its euro1.48 billion (US$1.9 billion) hostile takeover bid for fellow Irish airline Aer Lingus PLC.

It claimed the decision — to be made before July 4 — was politically motivated and was designed to appease the Irish government.

Ryanair Chief Executive Michael O’Leary said he planned to challenge an EU refusal to approve the takeover at the EU courts.

source: BW

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