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Ryanair's attempt to buy its rival, Aer Lingus, received a further setback yesterday when the European Commission began an in-depth investigation into the proposal.
Ryanair said it would let the offer lapse pending the outcome. This forestalls this week's deadline for Aer Lingus shareholders to vote on the £1 billion ($2.83 billion) bid.
Ryanair chief executive Michael O'Leary has admitted that the bid is likely to fail.
