International Airlines Group will issue a formal bid for Ryanair's near 30-percent stake in Aer Lingus within 28 days but will not increase the price offered, it said Wednesday.
"We're in the position now where we will be issuing the formal offer documents within 28 days," IAG chief executive Willie Walsh told a news conference in Dublin.
After months of deliberations, the Irish government announced on Tuesday it would sell its 25.1 percent stake in the former flag carrier to IAG, owner of British Airways and Spain's Iberia, after receiving assurances on the airline's future.
Walsh said he did not expect any direct discussions with Ryanair, which is the largest shareholder in Aer Lingus with a 29.8-percent holding.
He also ruled out any increase on the 2.55 euros per share offer, which values the airline at 1.36 billion euros ($1.7 billion).
"We're not expecting to have any talks with Ryanair," Walsh said.
"The offer we've made is the limit to which we're prepared to offer.
"I would believe that Ryanair will see the merit of the case that we've made, the value that we're offering in terms of this takeover and will want to see the deal go through."
Ryanair spokesman Robin Kiely told AFP that its board "will consider any offer on its merits, if and when an offer is made".
The budget airline, which has built-up at 29.8 percent stake in Aer Lingus, has launched three unsuccessful takeover attempts for its Irish rival.
It has fully written-down the cost of acquiring the Aer Lingus shares and has been ordered by the UK Competition and Markets Authority to reduce its stake to 5.0 percent.
Meanwhile, unions and opposition politicians in Ireland have reiterated their concerns about the sale.
Unions fear job losses and deteriorating working conditions after restructuring, despite IAG promising up to 635 new net jobs by 2020.
Prime Minister Enda Kenny said the decision was the "best deal for Ireland."
"This deal is the best means of securing and enhancing Ireland's connectivity with the rest of the world and maintaining a vibrant and competitive air transport industry in Ireland," he said during a speech on Wednesday.
Discussions on the sale got underway in parliament on Wednesday with a vote necessary before Dublin can complete the sale.
The European Commission will also have to assess the takeover on competition grounds.
AFP
Wed May 27 2015
![IAG says to make formal bid for Ryanair's Aer Lingus stake IAG says to make formal bid for Ryanair's Aer Lingus stake](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2015-05/81432734912_295x200.jpg)
WILLIE: The budget airline, which has built-up at 29.8 percent stake in Aer Lingus, has launched three unsuccessful takeover attempts for its Irish rival. - File Photo
10 Berita Pilihan - (16 Julai 2024
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
PAC beri tempoh tiga bulan kepada HRD Corp
Jawatankuasa Kira-kira Wang Negara (PAC) memberi tempoh tiga bulan kepada Perbadanan Pembangunan Sumber Manusia (HRD Corp) untuk mengemukakan laporan tindakan susulan terhadap syor jawatankuasa itu.
Kylian Mbappe tandatangan kontrak dengan Real Madrid
Bintang bola sepak Perancis Kylian Mbappe menandatangani kontrak selama lima tahun dengan kelab Sepanyol Real Madrid pada Selasa.
Pelepasan ketujuh air sisa nuklear Fukushima ke laut selesai
Jepun telah menyelesaikan pusingan ketujuh pelepasan air sisa radioaktif yang dirawat dari loji kuasa nuklear Fukushima Daiichi ke Lautan Pasifik pada Selasa.
Empat termasuk kapten maut dalam pertempuran
Empat anggota tentera India termasuk kapten meninggal dunia akibat kecederaan selepas pertempuuran pada malam isnin di Hutan Desa.
Pakistan sahkan 4 warganya terbunuh di Oman
Pakistan berkata pada Selasa empat warganya terbunuh dalam insiden tembakan pada malam Isnin berhampiran ibu negara Oman, Muscat.
Lima terbunuh, puluhan cedera dalam protes antikuota di Bangladesh
Sekurang-kurangnya empat orang terbunuh dan puluhan lagi cedera dalam pertempuran antara pelajar yang memprotes sistem kuota dalam pekerjaan sektor awam dan polis di pelbagai bahagian Bangladesh pada Selasa.
Kerajaan cadang perkenal pembiayaan swasta
Kerajaan menyasarkan untuk memperkenalkan pembiayaan swasta alternatif bagi memastikan kemampanan kewangan program sektor air, sekali gus mengurangkan kebergantungan pada perbelanjaan kerajaan dan mengukuhkan daya tahan.
Saya tak fitnah Guan Eng, cuma jelaskan siasatan SPRM - Muhyiddin
Presiden Bersatu Tan Sri Muhyiddin Yassin memberitahu Mahkamah Tinggi Kuala Lumpur hari ini bahawa beliau tidak memfitnah Lim Guan Eng berhubung isu pengecualian cukai terhadap Yayasan Albukhary
KPT alu-alukan dapatan, cadangan PAC - Zambry
Ini termasuklah cadangan pelaksanaan Garis Panduan Pelaburan dan Pembiayaan oleh Universiti Awam 2024 kepada anak-anak syarikat di bawah seliaan Kementerian Pendidikan Tinggi (KPT).
![COVID-19: British Airways laksana penstrukturan semula, 12,000 bakal hilang kerja COVID-19: British Airways laksana penstrukturan semula, 12,000 bakal hilang kerja](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2020-04/71588143404_BritishAirways.jpg)
COVID-19: British Airways laksana penstrukturan semula, 12,000 bakal hilang kerja
Sekurang-kurangnya 12,000 pekerjaan milik syarikat penerbangan, British Airways (BA) berisiko hilang susulan kemerosotan permintaan mendadak bagi perjalanan udara akibat krisis penularan COVID-19.