Lufthansa only bidder for Austrian Airlines

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Lufthansa only bidder for Austrian Airlines

Postby Greg on Thu Oct 23, 2008 4:51 pm

The Austrian government’s hope of selling its controlling stake in lossmaking Austrian Airlines hit turbulence on Wednesday when the flag-carrier’s shares plunged after a solitary bid was received from German airline Lufthansa.

People close to the auction of the government’s 42 per cent stake said the sale was “now clearly moving in Lufthansa’s direction."

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