Ryanair stake in Aer Lingus referred to UK Competition Commission15/06/2012 - 17:28:15
The Office of Fair Trading (OFT) in the UK has referred Ryanair's stake in Aer Lingus to the Competition Commission.
The Commission has the power to force the low-cost carrier to sell-down its almost 30% stake in the airline, if it has found to be anti-competitive.
The OFT began its investigation two years ago and has found that Ryanair's stake may give it the ability to exercise material influence over commercial policy at Aer Lingus.
It said that Ryanair has the ability to weaken Aer Lingus as a competitor and that its shareholding may confine Aer Lingus investment options.
As a result, it has now moved the case to the Competition Commission.
Ryanair had sought to stop the investigation, but this was dismissed by the UK Court of Appeal last month.
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