International Airlines Group (IAG) shares have fallen slowly but continuously since last week’s outline of the proposed takeover terms for Aer Lingus to the Irish flag carrier’s shareholders. IAG is offering EUR1.4 billion (US$1.5 billion) for Aer Lingus and has given assurances over preserving the Irish airline’s brand, management, headquarters and connectivity with the UK. Shareholders see little short term value in the purchase, but there remains uncertainty over the intentions of Ryanair Holdings and their 29.8% holding. Another factor weighing on IAG is the potential for continued uncertainty even if Ryanair agrees to sell their shares to IAG in

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