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UK: Ryanair expected to drain Aer Lingus stake next year

 |  September 18, 2014

UK airline Ryanair is expected to begin reducing its stake in Irish rival Aer Lingus to comply with a ruling by UK competition authorities, say reports.

Aer Lingus chief executive Christoph Mueller said in an interview that he is pleased Ryanair will reduce its stake in the company to 5 percent, and said it would likely be done throughout 2015, but was unclear as to whether the process would be complete by the end of next year.

The Competition and Markets Authority ordered Ryanair to reduce its shares in the rival earlier this year for “competition purposes.” Ryanair had fought the ruling, also made by the CMA’s predecessor the Competition Commission, and had at one point tried to wholly acquire the company.

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