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Ireland: IAG steps closer to Aer Lingus takeover

By  |  May 24, 2015

The Irish government said on Sunday it had received a report by an expert group advising it on the possible sale of its 25 percent stake in Aer Lingus to British Airways owner IAG paving the way for a long-delayed decision.

International Consolidated Airlines Group’s (IAG) proposed 1.36 billion euro ($1.5 billion) bid was recommended by Aer Lingus’ board in January but is conditional on the support of the airline’s two main shareholders – rival Ryanair (RYA.I) and the Irish state.

The government decision has been delayed for months by the preparation of the report, which could help the government win over some sceptical members of parliament and the airline’s trade unions.

The Sunday Business Post, without citing sources, reported that the government would announce after its weekly cabinet meeting on Tuesday that it is backing the sale.

 

Full content: Reuters

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