Buyers circling Gatwick and Stansted
21.04.08
Bankers have held talks with potential buyers of Gatwick and Stansted before a UK competition watchdog report, which is expected tomorrow and could lead to a break-up of airport operator BAA, the Mail reports. The Mirror suggests that it will be Gatwick BAA is ordered to sell.
BAA owns and operates 7 of Britain's biggest airports, including the 3 biggest around London - Heathrow, Gatwick and Stansted - the 3 biggest in Scotland - Aberdeen, Edinburgh and Glasgow - and Southampton Airport. A report due tomorrow from the Competition Commission is expected to support an Office of Fair Trading recommendation for a full investigation in to BAA's UK airport ownership, which could ultimately recommend that it sell at least one London airport, although not any time soon.
The Mail, citing no sources, says that investment bankers have held talks with interested parties from India and the Middle East as well as Singapore state investor Temasek. We would have expected them to be talking to Fraport and Macquire, plus US and Canadian investors. The mention of India is a surprise.
The Mirror adds 'senior Government sources' believe the Competition Commission is ‘virtually certain’to order BAA to sell a London airport, quoting 'experts' saying the most likely outcome would be to make it sell Gatwick.
A 'well-placed source' told the newspaper: ‘Recent events at Heathrow have pretty much sealed the fate of BAA. It is hard to defend its monopoly when it has meant so much chaos and frustration for passengers.’A spokesman for BAA declined to comment on the reports.
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