Ryanair has raised its stake in rival Irish airline Aer Lingus to 29.82 percent. 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 for Aer Lingus on competition grounds last year, but subsequently also rejected a request from Aer Lingus that it force Ryanair to reduce its stake.
According to Irish press reports today, Irish property developer Liam Carroll sold shares this week in Aer Lingus, which triggered a 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 had sold at least 30 million shares on Wednesday in the former state airline. |
