DUBLIN (Reuters) – Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz) called on its shareholders to reject a fresh bid from rival Irish airline Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) as analysts and investors questioned whether the deal would be allowed.
Aer Lingus said the surprise bid from Ryanair, made after the markets closed on Tuesday, undervalued the airline, also noting that Ryanair’s first offer was rebuffed by the European Commission while its second offer was withdrawn.
DUBLIN (Reuters) – Investors including the Irish government remained undecided about Ryanair’s (RYA.I: Quote, Profile, Research, Stock Buzz) latest bid to take over rival Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz), with some analysts questioning whether the deal would be allowed to go ahead.
Shares in Aer Lingus rose 17 percent on Wednesday, but this was well short of Ryanair’s offer at a 38 percent premium, reflecting market doubts about the deal.
DUBLIN, June 19 (Reuters) – Ryanair launched a third
bid to take over Irish rival Aer Lingus on Tuesday,
offering shareholders a 38 percent premium to the market in a
deal that would require regulators to drop opposition to a
Europe’s largest budget carrier, which already owns just
under 30 percent of Aer Lingus, said in a statement after
markets closed that it would offer 1.30 euros per share in a bid
to secure at least 50 percent.
DUBLIN (Reuters) – The International Monetary Fund on Friday urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout next year.
Dublin, which signed up to an 85 billion euro (68.98 billion pounds) EU/IMF bailout in late 2010, aims to return to long term debt markets later this year to help it prepare for the ending of official funding next year and meet borrowing needs of up to 20 billion euros in 2014.
NICOSIA/DUBLIN (Reuters) – Cyprus is looking to Europe, Russia and China for the best possible bailout terms, officials said on Wednesday, and could seek as much as 4 billion euros ($5 billion), or more than a fifth of its economy.
Speculation is mounting that an international bailout for euro zone member Cyprus is imminent, but its communist government has kept markets guessing so far.
DUBLIN (Reuters) – Cyprus could seek up to 4 billion euros in financial aid if it turns to the European Union for help, but needs an immediate 1.8 billion euros to recapitalize one of its banks in the next few weeks, its deputy Europe minister said on Wednesday.
Andreas Mavroyiannis told Reuters on a visit to Ireland that no decision had yet been taken about how to bail out his country’s hard hit banking system but that a loan would involve Europe in some way.
ATHENS/DUBLIN (Reuters) – The friendly terms of an international rescue for Spain have encouraged Greek politicians to believe they can extract a better deal from creditors, but Ireland and Portugal, fellow members of the bailout club, appear more resigned to their fate.
In Greece, which votes in a general election on Sunday, the radical, leftist SYRIZA party seized on the lenient Spanish bailout announced at the weekend as evidence that austerity measures demanded of Athens in return for a European financial rescue plan had failed.
DUBLIN, June 11 (Reuters) – Ireland’s government on Monday
scrambled to respond to claims Spain had secured a better
bailout from Europe, saying its own deal was in some ways more
attractive and insisting its lenders would match any concessions
offered to Madrid.
Euro zone leaders’ decision to grant Spain up to 100 billion
euros ($125 billion) in funding for its banks without entering a
full-scale rescue, has raised hackles from the Irish opposition,
who say the government has been outmanoeuvred.
DUBLIN (Reuters) – Ireland’s government declared victory in a referendum on Europe’s new fiscal treaty on Friday but saw little reason to celebrate as problems across the euro zone continued to weigh on steady progress at home.
The government had campaigned strongly for voters to back the treaty, arguing that a rejection would hurt Ireland’s chance of attracting the investment it needs to recover. With counting still under way, ministers said it was clear that the measure had passed, and opponents conceded defeat.
DUBLIN (Reuters) – Ireland’s government is confident after early counting that voters have backed a referendum on the European Union’s new fiscal treaty, saving Europe a major headache, two senior members of the “Yes” side told Reuters on Friday.
While the German-led plan for stricter budget rules needs the approval of only 12 of the 17 euro zone countries to be ratified, an Irish rejection would undermine one of Europe’s key initiatives just as problems mount in Spain and Greece.