Spanish construction group says it will co-operate with any competition investigations if its bid to buy airport operator BAA is successful.
Spanish construction group Ferrovial has said it will co-operate with any competition investigations if its bid to buy airport operator BAA is successful.
The Office of Fair Trading stated yesterday that it would examine whether the airports sector is competitive. BAA runs Heathrow, Gatwick and Stansted and handles about 63% of all the UK's air passengers.
In a statement this morning, Ferrovial said that its bid consortium ADI "will of course cooperate fully with any review, if the OFT does in due course decide to initiate one".
BAA has so far rejected Ferrovial's offer of £8.75bn for the company, saying that the bid fails to reflect its true value.
Ferrovial has not yet decided whether to increase its offer. BAA this week launched its defence against the bid, saying it would return £750m in capital to shareholders in Ferrovial's bid lapsed.
