Friday, 2 January 2015

RARE alert: British Airways owner said to have submitted raised Aer Lingus approach

It's the new year, so I have decided to introduce a new concept to little old Betaville. It's called the "RARE" alert. The boys over at FT Alphaville have got their "RAW", so I am going to have my "RARE".

Readers might ask what is "RARE"? Well, it's market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville.

The reason I am creating RARE is there were too many times in 2014 when I had a story but I couldn't get it over the line quick enough via formal journalistic channels, and was then pipped at the post by rivals at newspapers, newswires and broadcasters.

So, my first piece of RARE is 2015 is about the owner of British Airways having submitted a raised indicative offer for Aer Lingus.

For readers that don't recall, just before the holidays started it emerged IAG had made a move on Irish carrier Aer Lingus, which rejected the approach. Here is a link to the Aer Lingoes confirmation and rejection of the IAG approach:

http://www.investegate.co.uk/aer-lingus-group-plc--aerl-/rns/possible-offer-for-aer-lingus-group-plc/201412181610402326A/

Well, the gossip doing the rounds in the last few days is/was that IAG, which also owns Iberia, has submitted a fresh approach between EURO 2.40 and EURO 2.60 Again, just to reiterate this is RARE!

Still, shares in Aer Lingus were sharply up this afternoon trading near a 52-week high, so perhaps I am onto something? Or, perhaps there is completely different reason for this afternoon's share price gain of 3.1pc in London?        

I'm sure we will find out soon enough...

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