Ryanair ups Aer Lingus stake

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JohnK

JohnK

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The Age said:
Ryanair ups Aer Lingus stake
November 30, 2006 - 10:25AM

Ryanair has raised its stake in fellow Irish airline Aer Lingus to 25 per cent, effectively blocking anyone else from making a bid for the carrier.

A stock exchange announcement on Wednesday showed Ryanair had increased its holding in Aer Lingus to 25.2 per cent from 19.2 per cent, even though its current 2.80 euro-a-share offer looks set to fail given formal opposition from key shareholders.

Confirmation Ryanair had raised its stake sent Aer Lingus's shares to 2.80 euros for the first time since Nov. 9.

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