FONT-SIZE Plus   Neg

Ryanair Demands OFT Explanation Regarding BA/BMI Merger Deal - Quick Facts

Ryanair (RYAAY,RYA.L) called on the Office of Fair Trading, or OFT, to explain their decision this week not to ask the European Commission to refer the BA/British Midland merger back to the OFT for assessment, which runs contrary to the OFT's previous decision to attempt to review the European Commission's ruling on Ryanair's failed 2006 offer for Aer Lingus, which the OFT is attempting to investigate, despite the fact that it is out of time to do so.

Ryanair's Michael O'Leary said,

"The OFT now admits that the European Commission is "best placed" to consider these airline mergers, and as a result, the OFT has decided not to review BA's acquisition of British Midland. Given this admission, the OFT and its Irish boss John Fingleton should explain precisely why six years after Ryanair's failed takeover of an Irish airline, Aer Lingus, was prohibited by the European Commission, it now wishes to re-investigate the European Commission's decision not to force Ryanair to dispose of its 29% stake in Aer Lingus..."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several...
comments powered by Disqus
Follow RTT