Irish government agrees to sell its Aer Lingus stake to IAG - WAOW - Newsline 9, Wausau News, Weather, Sports

Irish government agrees to sell its Aer Lingus stake to IAG

Posted:
 Ireland intends to sell its 25 percent stake in the Aer Lingus airline to IAG after receiving guarantees that the parent company of British Airways will increase employment and air links with the United States.

   IAG, which also operates Spain's Iberia airline, confirmed revised terms of its takeover offer as Ireland's Cabinet announced its decision Tuesday night.

   To succeed, IAG still must persuade the Irish airline's largest shareholder -- rival carrier Ryanair -- to accept the offer valuing Aer Lingus at 1.4 billion euros ($1.52 billion). Ryanair holds 30 percent of Aer Lingus shares because of its own three thwarted takeover bids, but has yet to talk directly with IAG.

   Ireland's business and tourism chiefs welcomed the decision. Labor unions expressed reservations.

  • InternationalMore>>

  • Trump heightens tariff threat in trade war with China

    Trump heightens tariff threat in trade war with China

    Friday, July 20 2018 7:06 AM EDT2018-07-20 11:06:19 GMT
    Friday, July 20 2018 2:10 PM EDT2018-07-20 18:10:20 GMT
    Trump indicates willingness to hit all Chinese imports with tariffs, sending markets sharply lower.More >>
    Trump indicates willingness to hit all Chinese imports with tariffs, sending markets sharply lower.More >>
  • German police: 9 injured in bus attack, suspect arrested

    German police: 9 injured in bus attack, suspect arrested

    Friday, July 20 2018 9:56 AM EDT2018-07-20 13:56:42 GMT
    Friday, July 20 2018 2:09 PM EDT2018-07-20 18:09:54 GMT
    German police say several people have been injured in an attack in the northern city of Luebeck and a suspect has been arrested.More >>
    German police say several people have been injured in an attack in the northern city of Luebeck and a suspect has been arrested.More >>
  • Israel strikes Gaza after shots fired at soldiers

    Israel strikes Gaza after shots fired at soldiers

    Friday, July 20 2018 11:37 AM EDT2018-07-20 15:37:47 GMT
    Friday, July 20 2018 2:09 PM EDT2018-07-20 18:09:48 GMT
    The Palestinian Health Ministry says three people were killed by Israeli fire in Gaza.More >>
    The Palestinian Health Ministry says three people were killed by Israeli fire in Gaza.More >>
Powered by Frankly