Thursday, October 05, 2006

Theatre of Schemes

Having just used his being a fan of Manchester United as an excuse for his Manchester nixer, Taoiseach Bertie Ahern has no excuse for not anticipating the sequence of events (in which the roars of laughter in Mullingar compete with blanched faces in Dublin) resulting in Ryanair announcing what is likely to be a successful takeover bid for Aer Lingus.

Because Ryanair simply exploited the fact that Aer Lingus now has publicly traded shares to accumulate a big stake in the company and use it as a platform for a takeover bid -- exactly how Bertie's beloved MU ended up in the hands of American Malcolm Glazer when he augmented his shares with those held by Bertie's pals John Magnier and JP McManus.

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