Posted on 08/27/2006 7:36:50 AM PDT by jdm
LONDON (AFX) - Aer Lingus is tomorrow expected to confirm plans for a London flotation that will value the Irish airline at up to 1.2 bln eur, reported the Sunday Times.
The deal will be the first float of an airline on the main London Stock Exchange since Stelios Haji-Ioannou brought easyJet to market six years ago.
The Sunday Times said it will also bring to an end tortuous negotiations between the Irish government, airline management and unions over the future of Aer Lingus.
Only three years ago, the Irish government, which owns 85 pct of the company, said it would never be sold, and unions have vociferously opposed the deal.
Meanwhile, the Sunday Telegraph said British investors are to be given special treatment in the flotation.
A high minimum investment has been set because the Irish state is reluctant to encourage retail investors to put their savings into a volatile sector such as aviation. That will mean Irish subscribers must put up at least 10,000 eur.
The minimum for investors in the rest of Europe has been set even higher, at 50,000 eur, but the Dublin government has decided that UK investors should have the same threshold as Irish nationals.
They may have an advantage. Their homegrown terrorists may be able to keep the Islamic terrorists off of the Aer Lingus planes. I still don't think I'll invest.
Cunning
Oy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.