Ryanair Retracts Offer For Aer Lingus

Irish low-cost carrier Ryanair on Wednesday said it was retracting its takeover bid for Aer Lingus due to a European Commission probe into the bid. The European Commission said the reason for the investigation concerns competition, believing the bid "could reduce choice for consumers and could give rise to higher fares than would be likely if the two carriers remained separate," according to London's AFP. The Irish government and the management and trade unions of Aer Lingus oppose the takeover bid.

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