RYANAIR RESPONDS TO THE OFT's "MERGER UPDATE"

RNS Number : 4838N

Ryanair Holdings PLC

01 September 2011

 



RYANAIR RESPONDS TO THE OFT's "MERGER UPDATE"

Ryanair's Stephen McNamara said:

 "We are surprised that the OFT continues to waste time and resources on a failed merger offer between two non UK companies, some five years after the offer was withdrawn, and some four years after the EU Commission prohibited the original offer but confirmed that Ryanair had neither de jure nor de facto control over Aer Lingus.

This OFT investigation sets a damaging precedent for future UK mergers, as it appears that the OFT now intends to second guess and become involved in mergers up to 9 years after the transaction, only once all EU appeals have been completed.  We believe that this investigation is out of time and we trust that the Court of Appeal will share our view and put an end to this unnecessary investigation."

 

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