IS Michael O’Leary a buyer or a seller? The sudden bid for Aer Lingus from the Ryanair chief has certainly titillated otherwise boring stock markets in recent days.

Most of the usual suspects — the po-faced analysts, the serious commentators and even self-important political experts — have been solemnly pontificating on the value of the bid. Hours of airtime and newsprint have been wasted measuring up the merits of O’Leary’s latest escapade.

Meanwhile, the European Commission is shaping up to kill it dead.