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EC: Ryanair seeks takeover permission

Aer Lingus - Takeover planned
Aer Lingus - Takeover planned

The website of the European Commission has reported that Ryanair has asked the Commission for permission to acquire Aer Lingus.

The application was filed today and the Commission must take action by 6 December to either approve the deal or extend consideration to a later date.

Ryanair has offered €1.48 billion for airline.

The Government owns around 25% of Aer Lingus shares and said it will not sell its stake under any circumstances.

The Government has been joined in its opposition by Aer Lingus's Employee Share Ownership Trust (ESOT) which upped its stake last week to 12.58%, the company's pilots with a 2.3% share and businessman Denis O'Brien who took out a defensive 2.1% shareholding.