The final report issued by the UK Competition Commission can be found at http://www.competition-commission.org.uk/assets/competitioncommission/docs/2012/ryanair-aer-lingus/130828_ryanair_final_report.pdfNotes to Editors
- A landmark finding by the UK Competition Commission (CC) has been published today concluding that Ryanair's 29.82% stake in Aer Lingus enables it to materially influence the commercial policy and strategy of its competitor. The UK Competition Commission is now requiring Ryanair to sell down most of its stake to 5% to remedy this anticompetitive situation.
- Ryanair's presence on the Aer Lingus share register for the last seven years has been contrary to the interests of the 14 million passengers who fly on routes between the island of Ireland and Great Britain. In addition, it has been an impediment to Aer Lingus' ability to engage in M&A activity.
- Alec Burnside is a leading EU merger control specialist with three decades of experience in advising on major multinational transactions and other antitrust issues. Since its opening in May 2011, the competition team in Cadwalader's Brussels office has been involved in the highest profile complex merger reviews carried out by the European Commission, including most recently the prohibition of the UPS/TNT Express transaction and Ryanair's third bid for Aer Lingus.
- The press release issued by the Commission can be found at http://www.competition-commission.org.uk/media-centre/latest-news/2013/Aug/cc-requires-ryanair-to-sell-shareholding.
- The complete case file is located on the UK Competition Commission's website at http://www.competition-commission.org.uk/our-work/directory-of-all-inquiries/ryanair-aer-lingus.