|Quoting Phen (Reply 35):|
Not entirely accurate; FR has just had it's third attempt to take over EI effectively quashed by the Irish Government who has clearly stated that it will not sell it's stake in the airline to FR.
I understood the first bid dated back to 5 October 2006 by when FR
had obtained a 19.2 per cent stake in EI
. Subsequently by 28 November it had increased that stake to 25,2 per cent and now holds 29.4 per cent of EI
I also understood that FR
notified the EC
competition authorities of what I understood was its second and most recent bid on 5 July 2912 and the EC
responded on 10 July that it was continuing an investigation as to the impact of the FR
equity investment in EI
. This was in response to an earlier appeal by EI
requesting that the EC
disenfranchise the voting rights attributable of the FR
stock holding as if FR
used its voting rights it would be anti-competitive.
If this was the third bid when was the second Ryanair bid made. I can find no reference to it.
As far as I can determine the current bid has not been "quashed" but is still on-going if in very muddy waters. Indeed as recently as the 29 December the "Irish Examiner" published an article "Minister sees the light on Ryanair Aer Lingus offer". It starts:
"It would seem that the Minister for Transport has seen the light in terms of the validity of the Ryanair offer for Aer Lingus."
If his government has already "quashed" the offer why is its Minister responsible being reported in the Irish press as having "seen the light . . . of the validity of the . . . offer"?