Ryanair asks EU to approve takeover bid for Aer Lingus

Ryanair has asked European competition regulators to approve its €694m takeover bid for Aer Lingus, in what could be an uphill battle after an EU veto against a previous offer.

The European Commission said yesterday that it would decide by Aug 29 whether to clear the deal, the third offer by Michael O’Leary for the airline.

Ryanair, the largest shareholder in Aer Lingus with a 30% holding, notified the commission of its bid on Tuesday. The budget carrier has offered €1.30 a share for the former national flag carrier. Shares in Aer Lingus on the Irish stock exchange closed at €1.05 last night.