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EU regulators to decide on IAG, Aer Lingus deal by July 1

Reuters - UK Focus

BRUSSELS, May 27 (Reuters) - European Union antitrust regulators will decide by July 1 whether to clear British Airways-owner IAG's takeover bid for Irish peer Aer Lingus, the European Commission said on Wednesday.

IAG sought EU approval earlier on Wednesday, a filing on the Commission site showed.

The EU competition enforcer can either clear the deal unconditionally or extend the preliminary review by 10 working days to examine proposed concessions. It can also open a full-scale investigation of about four months if it has serious concerns.

The Irish government agreed on Tuesday to sell its 25 percent stake in Aer Lingus (Other OTC: AELGF - news) . The deal still needs backing from Ryanair, which owns 30 percent of Aer Lingus. (Reporting by Foo Yun Chee; Editing by Mark Potter)