Updates

** Shares of British budget airline easyJet EZJ.L closed down nearly 12% at 585.2p

** European Union will review airline ownership rules in autumn to prevent foreign investors from taking full control of European carriers, a Reuters exclusive report says

** EU review threatens the takeover bids tabled by U.S. investment firms Apollo APO.N and Castlelake for easyJet

** "The issue seems to be that while the two bidders seem willing to allow 51% of the voting rights to remain with European investors the EU is concerned that the effective control of the company would be outside of the EU" - Goodbody analyst Dudley Shanley

** "The review could provide some delay in the process. I don't think it means these deals won't happen, but I would expect extensions to both the bids' deadlines" - Stephen Furlong from Davy

** YTD, stock is up ~14.6%

($1 = 0.7476 pounds)