Ryanair increase Aer Lingus stake
03.07.08
Ryanair increased its stake in rival Irish airline Aer Lingus to 29.82% yesterday. In a statement the budget airline said it has purchased an additional 3.5 million shares in Aer Lingus, bringing its total holdings to 159,231,025 shares.
Ryanair, which launched a hostile but failed takeover bid for Aer Lingus in 2007, said it had bought the shares yesterday but did not say how much it had paid for them. The European Commission blocked Ryanair's bid on competition grounds last year, and also rejected a request from Aer Lingus that it force Ryanair to reduce its stake. Both are appealing these decisions.
According to press reports today, Irish property developer Liam Carroll sold shares this week in Aer Lingus, which triggered a sharp drop in the Irish airline's share price (it was down 16 percent yesterday). The Irish Times and the Irish Independent, without citing sources, said Mr Carroll sold at least 30 million shares on Wednesday in the airline.
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book stansted airport hotel or stansted airport car parking at the lowest price, click on these links to two great stansted airport car parking and stansted airport hotel price comparison pages.
