copenhagen, page-11

October 24, 2005

British airport operator, BAA, said it expected to submit a bid when Hungary reopens the tendering process for the sale of a majority stake in Budapest Airport.
However, it declined to comment on media reports saying that its offer could exceed USD$2 billion, saying a price had not been determined.
"We are waiting to see what the revised tender price is. We are expecting something in the next few weeks," a BAA spokesman said.
BAA and Australia's Macquarie Airports Holdings are seen as front-runners for the deal, which attracted bids of nearly USD$2 billion in the first round.
A potential rival bidder, Denmark's Copenhagen Airports, said on Monday it was dropping out of the race after Macquarie Airports launched an agreed takeover bid for Copenhagen.
Hungary's state privatisation agency APV is relaunching the tendering process as the previous one was cancelled when a Budapest court ruled it was invalid due to insufficient consultation with workers.
British newspaper The Sunday Times said bidding could go as high as EUR2 billion (USD$2.39 billion) and a source close to the situation said that bidding could exceed USD$2 billion but it was too early to speculate on price.
Germany's Hochtief and Frankfurt Airport operator Fraport are also expected to bid in the second round.
(Reuters)