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EU Extends Probe of Ryanair Bid for Aer Lingus

Reuters
Feb 23, 2007

(Adrian Dennis/AFP/Getty Images)

BRUSSELS - The European Commission on Thursday extended the deadline for its examination of Ryanair's bid to buy Aer Lingus to June 13rd from May 11th, and Ryanair expressed confidence it would win approval.

"Ryanair is confident, as it has been throughout the process, that this transaction will be cleared by the European Commission," the company said in a statement.

A spokesman for the European Union's executive Commission, Jonathan Todd, said: "Both sides agreed it would be useful to have the extra time because it is a detailed, complicated case."

Ryanair, an Irish -based cut-rate airline, called the deal "pro-competitive and pro-consumer".

A spokesman for Aer Lingus, formerly the Irish national carrier in which the government still holds a quarter stake, declined to comment.

The Ryanair bid for Aer Lingus has lapsed but the company said that if it wins approval from the European Commission on competition grounds it will renew it.

So far, owners of a majority of stock in Aer Lingus -- including the Irish government -- have opposed the bid.



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