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 Spanish firm 'bids' for three British airports

Spanish firm 'bids' for three British airports
18 Feb 2014

Madrid-based infrastructure company Ferrovial has made a bid to take control of three British airports, according to reports. 

The company, which is the largest stakeholder in Heathrow Airport Holdings (HAH), has allegedly offered to buy Aberdeen, Glasgow and Southampton airports from the group, a source told Reuters. 

Both HAH, which also owns Heathrow Airport, and Ferrovial declined to comment, but  Spain's Expansion newspaper claimed the offer was worth £800m. 

According to Pablo Ortiz, equity analyst at Spanish brokerage Interdin Bolsa, such a deal would suit both parties as it would allow Ferrovial to focus on maximising profits at those smaller airports, while HAH concentrates on running Heathrow. 

'Management at Heathrow requires all the devotion you can address,' he told the news agency.

'I think management want to focus on that front, and also the issue of the third runway is very important.'

Two proposals for expansion at Heathrow were among the three possibilities shortlisted in December by the Airports Commission. ADNFCR-408-ID-801694854-ADNFCR

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