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|Topic: Austrian Airlines Is Put Up For Sale|
Posted 2008-07-02 01:13:55 and read 3234 times.
Austria's government has mandated Merrill Lynch with finding a buyer for Austrian Airlines, the Viennese daily Der Kurier reported without specifying its sources.
According to the newspaper, Austria's coalition government would have to issue a new privatisation mandate to the country's state industrial holding OIAG -- which holds a 42.75 percent stake in Austrian Airlines -- before any additional steps can be taken.
The Boston Consulting Group has been carrying out a strategic review aimed at improving the carrier's earnings potential via restructuring, as well as considering prospects for a strategic partnership, since mid-June.
Austrian Airlines previously said the initial results of this strategic review will be published at the end of July, while detailed recommendations will be presented to the carrier's owners by the end of September.
Separately, the Viennese broadsheet Der Standard reported on Wednesday that Vienna's public prosecutor's office confirmed it is investigating charges of possible securities laws infractions by Austrian Airlines in connection to the failed planned investment by Saudi-Austrian investor Mohammed Bin Issa Al Jaber
|Topic: RE: Austrian Airlines Is Put Up For Sale|
Posted 2008-07-02 03:24:03 and read 3103 times.
Admins, I suggest merging the threads.
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