Ryanair explosions OFT on Aer Lingus game probe
Michael O'Leary, Ryanair CEO called the OFT scrap its query "without delay and without losing time or resources.
Regulatory agency wants if obliged to Ryanair has "the ability to exercise a significant influence on the commercial policy of Aer Lingus.
Aer Lingus, whose shareholders include the Irish Government has welcomed the inquiry and pledged its full cooperation.
However, the investigation was launched four years after that Ryanair initially bought a stake in Aer Lingus, with the OFT say that his action was invited at the end of a lengthy investigation Commission into the agreement.
Ryanair has bought a stake in Aer Lingus in 2006 and made a public offer complete purchase a few months later.However, this approach was rejected by investors of the company and an EC decision.
Suite, Ryanair and Aer Lingus appealed the EC - with Aer Lingus finding unfortunate that Ryanair was not forced to divest its participation minoritaire.Les two appeals were rejected, with the European General Court accepting in July 2010 game of that Ryanair, now 29 82pc was not allowed to "influence" decisive "on Aer Lingus.
Today, however, the OFT wrote to Ryanair who seek information and its vue.Il is normally required to refer cases to the Competition Commission within four months of acquisition.However, if there is an EC investigation, this window can be extended
Mr. O'Leary said yesterday: "we are surprised by this fot in an offer for the failure of a merger between two companies non - UK, query about four years after the offer, and three years after the Commission has investigated and confirmed that Ryanair has not de jure or de facto the Aer Lingus control."
"We asked our lawyers to communicate directly with the OFT to carry this out of time and unnecessary query to a rapid conclusion."
"Ryanair calls also on the OFT to close these queries without delay and without wasting time and resources on what is clearly a non-existent problem where the OFT has clearly no longer has no jurisdiction."
John Markham, the firm Cameron McKenna said: "at first glance, this is an unusual case, given the history in Brussels and the hoops the OFT has pass to establish its jurisdiction."
"However, the OFT was selective on the cases it prioritizes and can expect to have thought carefully all the aspects.Une do reference to the Competition Commission is absolutely not excluded, but it seems early to speculate.".
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