Spanish group wants to take over Heathrow (updated)

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killerwhale65
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Spanish group wants to take over Heathrow (updated)

Post by killerwhale65 »

The Spanish group Ferrovial wants to place a bid on BAA, the group that manages among others Gatwick and Heathrow.
No bid has been placed yet, however Ferrovial confirms it is very interested in BAA.

BAA is one of the largest airport managing companies.

Ferrovial is one of the largest building companies in Europe. They already own Swissport, the airport of Belfast and 50% of the airport of Bristol.

Source: VRTnieuws.net
Last edited by killerwhale65 on 19 Feb 2006, 18:55, edited 1 time in total.
Matthias Thoen
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killerwhale65
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Post by killerwhale65 »

--UPDATE--

The British government has no intention to block the take-over of Spanish Ferrovial, as long as the correct safety standards are respected.

Since 2003, the British government is no longer a co-owner of BAA (British Airport Authorities). Following a government spokesman, it can thus no longer block any possible take-over.

Source: Luchtvaartnieuws
Matthias Thoen
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Buzz
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Post by Buzz »

Is it me, or does € 14 billion sounds cheap? BAA just bought an airport in Eastern Europe (was it Budapest?) for € 2,2 billion, so Heatrow, Gatwick, Stansted and the other airports together would be worth way more than the 14 billion, woudn't they?

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Post by Sabena320 »

I don't think it's cheap. Didn't Maquari Airports buy BIAC for about €750 million???

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Post by killerwhale65 »

i found an interesting addition to the story:

Macquarie Airports Group, owner of among others Brussels National airport, might also be interested in (part of) BAA (British Airports Authority), the world's largest airport operator.
Now, speculation mounts that BAA will not only be sold, but also broken up.

Macquarie stated 2 weeks ago that it had not been approached by Ferrovial to take part in a break-up of BAA's assets. However it is unlikely that the group would not join the bid. It already has stakes in 2 British airports, Birmingham and Bristol.

BAA is the dominant player in the British Airports market. It received that near-monopoly in 1987.

Source: Herald Sun
Matthias Thoen
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Buzz
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Post by Buzz »

Where does the rumor from the break-up come from?
It would be good for airlines & passengers, but how can it be good for shareholders? More competition means lower prices, witch in turn means less return on investment...

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