Aer Lingus welcomes ruling on OFT probe into Ryanair stake

Aer Lingus Group has welcomed the refusal by the UK Supreme Court to grant Ryanair leave to appeal against the recent judgement by the Court of Appeal that the Office of Fair Trading is 'in time' to investigate Ryanair's minority shareholding in Aer Lingus under the UK's merger control legislation.

The Supreme Court's decision brings to an end Ryanair's challenge to the validity of the OFT's decision to commence its investigation into Ryanair's minority shareholding in September 2010.

The OFT can now proceed swiftly to complete its investigation into Ryanair's shareholding which is contrary to the interests of consumers and the majority of Aer Lingus's shareholders.

At 9:18am: (LON:AERL) share price was +0.02p at 0.92p

Story provided by StockMarketWire.com

01/06/2012