Vueling shares dumped as EU merger comes through, Aer Lingus higher - European share price wrap
The European Union's worst kept airline secret - that it would approve the Vueling-clickair merger - was made public on 09-Jan-09, and Vueling's shares promptly dropped 7.6% on the confirmation. Prior to Friday, the carrier's shares had risen 78% on speculation the deal would gain the regulatory green light.
Air Berlin shares dropped 2.6%, as news emerged a mystery buyer had acquired nearly 19% of the carrier.
Meanwhile, the European Commission (EC) set the deadline of 12-Feb-09 to either approve or open a four-month in-depth investigation, regarding Ryanair Holdings plans to merge with Aer Lingus Group. Aer Lingus shares rose 4.9%, while Ryanair closed up 1.5%.
European selected airlines daily share price movements (% change): 09-Jan-09