London - Ryanair is to challenge an order by the UK competition authority to sell down its stake in its Irish rival Aer Lingus.
It said the final ruling by the Competition and Markets Authority (CMA) was “ridiculous” and vowed to appeal against the watchdog.
The CMA said it stood by its provisional decision in April demanding that Ryanair cut its holding in Aer Lingus from 29.8 percent to just 5 percent, and would work with other authorities to enforce it.
This would pave the way for a £1bn takeover bid of Aer Lingus by International Airlines Group, the owner of British Airways.
A Ryanair spokesman, Robin Kiely, said the ruling was “factually unsustainable and legally flawed”, and the airline intended to appeal to the Supreme Court.
The Independent