The European Union's General Court (the old Court of First Instance) to day ruled on two appeals relating to the European Commission's prohibition of Ryanair's bid for Aer Lingus. In the first case, the Court rejected Ryanair's appeal against the Commission's decision. In the second case, the Court rejected Aer Lingus' appeal against the Commission's decision not to force Ryanair to dispose of the 29.9%. The second case is very interesting because it means that, in certain circumstances, bidders are able to retain stakes even if the bid fails provided the stake is not a controlling stake.

Press release from European Union General Court