Ryanair case goes to OFT for investigation
6th June 2012
The latest development in the long-running Ryanair shares case has seen the Office of Fair Trading granted permission to investigate their disputed Aer Lingus minority stake, after the airline’s Supreme Court appeal attempt was dismissed.
As reported last month, a Competition Appeal Tribunal hearing recently ruled that Ryanair’s attempted buyout of rival firm Aer Lingus could not go ahead; the budget airline’s unsuccessful efforts at taking the matter to the Supreme Court now mean that the group could be forced to sell the 25 percent stake it has in the Irish firm.
A statement from Aer Lingus welcomed this latest decision, explaining how it believes Ryanair’s stake is not helpful for either its consumers or most of its other shareholders.
The OFT has been supported throughout this process by lawyers holding some of the biggest competition solicitor jobs in the City, and the appointments seem now to have been justified.