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OFT refers Ryanair stake in Aer Lingus to Competition Commission
Friday, 15th June 2012
The Office of Fair Trading has referred Ryanair's completed acquisition of a minority stake in Aer Lingus to the Competition Commission for further investigation.The OFT started an investigation into Ryanair's stake of 29.8% in Aer Lingus in October 2010.
The OFT was legally unable to act prior to this date because Ryanair's bid for outright control of Aer Lingus was under review by the European Commission and European Courts.
The OFT's investigation was also suspended on two occasions, once by the OFT because it had insufficient information with which to proceed, and once due to a legal challenge by Ryanair, which was dismissed by the Court of Appeal on 22 May 2012.
At 4:22pm:
(LON:AERL) share price was -0.03p at 0.94p
(LON:RYA) Ryanair Holdings PLC share price was +0.06p at 3.9p
Story provided by StockMarketWire.com
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