UK Antitrust Court Axes Ryanair Bid To Keep Aer Lingus Stake

Law360, New York (March 7, 2014, 6:23 PM EST) -- A U.K. competition court on Friday upheld an order requiring Ryanair Holdings PLC to sell off most of its nearly 30 percent stake in rival Aer Lingus Group PLC, ruling that the Competition Commission did not overstep its authority by forcing the divestiture.

The Competition Appeal Tribunal rejected the entirety of Ryanair's appeal, holding that the CC's August divestiture order didn't conflict with related European Union proceedings over Ryanair's twice-rejected efforts to take over its Irish rival.

The court likewise found that the remedy — which...
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