IAG set to get clearance on takeover

IAG is set to complete its takeover of Aer Lingus after Ryanair said it would accept the offer and a source familiar with the matter told Reuters the British Airways-owner would gain conditional EU approval.

IAG’s plan to buy Aer Lingus and build a new transatlantic hub at Dublin Airport depended on agreement from Ryanair, which holds a 30% stake in Aer Lingus, and the Government, which agreed to sell its 25% stake in May.

It is set to clear the final hurdle and gain EU competition approval for the €1.3bn bid after improving concessions to ease competition worries, a person familiar with the matter said yesterday.