BAA To Bid For Budapest Airport Stake

BAA To Bid For Budapest Airport Stake: "British airport operator BAA will bid for a 75 percent stake in Budapest Airport on Monday, the company said, although it declined to say what price it would offer.
'I am happy to confirm that we intend to bid and the closing date is tomorrow,' a spokesman said on Sunday. 'I certainly couldn't comment on the amount.'
Hungary's state privatization agency (APV) launched a single-round closed tender for a 75 percent stake minus one share in Budapest Airport in October, shortly after cancelling a previous sales attempt.
The earlier tender had attracted a bid of nearly USD$2 billion but was cancelled when a court declared it invalid because the APV failed to sufficiently consult workers as required by law.
In the new tender, the APV invited the five bidders who made it into the second round of the previous process.
Australia's Macquarie Airports Holdings has since pulled out, leaving Germany's Hochtief, Frankfurt Airport operator Fraport and Denmark's Copenhagen Airports in addition to BAA."