Ryanair 'will not continue Aer Lingus bid after Feb 13'

Ryanair says it will not continue with its takeover bid of Aer Lingus if the company's shareholders do not accept its offer by February 13.

The deadline is the same the date that the European Commission will announce its stance on the proposed buy-out.

Ryanair chief executive Michael O'Leary also hinted today that the airline might increase its current offer of €1.40 per share, but insists it will not go above €2.

Mr O'Leary claims he has received a positive reaction from talks with shareholders and is calling on the Government to clarify its position.