Manchester ‘to make £700m bid for Glasgow Airport’
22.08.08
The owners of Manchester Airport are poised to make an early bid for its Glasgow counterpart, the Herald reports. Publicly-owned Manchester Airports Group (MAG) said it had formed a bid team to look at buying Glasgow Airport, which it believes has real potential to mirror Manchester's recent expansion.
MAG's move came after the Competition Competition recommended that Spanish-owned giant BAA, which enjoys a near monopoly north of the border, sells either Glasgow or Edinburgh airports. BAA said it wanted to keep both, but industry insiders stress that, if pushed, it would far rather keep Edinburgh than Glasgow.
Jonathan Bailey, group external affairs director of MAG, said: ‘We're looking at Glasgow. We are interested in Glasgow. What we will be doing is taking a close look at the financial situation at Glasgow and at what we could bring to the airport.’
The Herald understands potential buyers have valued Glasgow at anything between £500m and £700m. BAA is thought to believe the asset is worth more than £1bn.
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