UK Orders Ryanair To Shed Most Of Aer Lingus Stake

By Melissa Lipman (August 28, 2013, 3:09 PM EDT) -- The U.K.'s Competition Commission on Wednesday ordered Ryanair Holdings PLC to sell off most of its nearly 30 percent stake in rival Aer Lingus Group PLC to alleviate concerns that the budget airline could use its holdings to thwart competition.

After years of investigation and fighting with the budget carrier, British competition officials told Ryanair that it could keep only 5 percent of its current 29.8 percent stake in Aer Lingus.

Ryanair, which built up and kept the stake in an effort to take over the rival Irish airline, immediately vowed to appeal the decision, citing the European Commission's recent conclusion...

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