London Competition Appeal Tribunal has ruled that the Office of Fair Trading is “in time” to investigate Ryanair’s minority shareholding in Aer Lingus under England’s merger control legislation.
Pretty much little chance of standing up in an Appeal as on that basis it allows Govts to decide at any point in time to investigate anybodys minority shareholding even after a bid has failed and ignores EU rules.
OFT and its lots never found there was a problem with competition issues in relation to London airports until the day after Ferrovial bought BAA...........which speaks for itself.
Additionally as both companies are Irish and registered in Ireland then I can't see how UK have any juristiction in this case.
Of course if the UK gets its way then they will have to accept that French and German courts have equal rights regarding UK companies in takeover situations which you can be guaranteed City of London will not wish for.