He'd be better off buying into EZY that fighting them. He'd loose big time.
Did he not have that chance back when they were still the ones in the pram, and was he not offered a similar investment in Ryanair?
Someone may be able to elaborate on the reasoning, don't think it was just down to not being able to stick Virgin on the tailfin. Maybe he though back then that his own European loco would do a lot better than it did?