Ryanair must slash Aer Lingus stake, watchdog confirms

28th August 2013, Comments 0 comments

Irish no-frills airline Ryanair must cut its minority holding in rival Aer Lingus, Britain's Competition Commission watchdog said Wednesday, confirming an earlier preliminary ruling.

"Ryanair Holdings plc (Ryanair) will be required to sell its 29.8-percent stake in Aer Lingus Group plc down to five percent," the commission said in a statement.

"In its final report published today, the CC confirmed its provisional findings that Ryanair's minority shareholding had led or may be expected to lead to a substantial lessening of competition between the airlines on routes between Great Britain and Ireland," the watchdog added.

© 2013 AFP

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