EU to probe Ryanair's Aer Lingus takeover bid

EU regulators today launched an in-depth probe into Ryanair Holdings plc’s hostile bid for Aer Lingus plc, delaying any deal by months.

The European Commission said it saw “serious competition concerns” with the deal combining Ireland’s two largest airlines, saying it could reduce customer choice for consumers and hike fares.

It has until May 11 to decide whether it can approve the deal or block it. Ryanair’s €1.5bn bid already looks troubled. The Government, which owns a quarter of the national carrier, is fiercely opposed and less than 1% of Aer Lingus shareholders have so far accepted the offer.