Northern Ireland Aviation Enthusiast's Forum
General Aviation Discussion => Aviation News => Topic started by: casper on May 06, 2007, 11:15:44 AM
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A consortium trying to buy Australia's Qantas Airways says a sufficient number of shareholders have accepted its offer, hours after saying they had not.
Airline Partners Australia (APA) said it had gained 50.6% of Qantas shares, just 0.6% above the minimum stake required to keep their bid alive.
APA had admitted defeat before Friday's 0900 GMT deadline, so it must now ask regulators for permission to proceed.
The $A10.8bn ($8.9bn; £4.5bn) bid has faced strong opposition in Australia.
More Info (http://news.bbc.co.uk/1/hi/business/6627391.stm)