Shanghai Daily: Business - shanghaidaily.com
AUCKLAND International Airport Ltd, fighting a takeover offer from Canada Pension Plan Investment Board, said a second group is considering a bid, sending shares of New Zealand's transport hub higher. The potential bidder indicated its interest in November and will have access to the airport's accounts, Chairman Tony Frankham said in a statement yesterday, Bloomberg News reported. The board opposes Canada Pension's US$1.4 billion offer for a 40-percent stake, which includes putting the airport's assets into a holding company and issuing new stock and convertible notes. The prospect of a rival bid may be enough to slow acceptances of the Canadian offer, which closes March 13. The board is seeking proposals from investors with more aviation experience than the Toronto-based fund manager and plans to begin assessing alternatives early in 2008, Frankham said. "You wonder if this is more a tactic from the airport board just trying to make the CPP bid seem less
Independent.co.uk/News/Business
SFR, the French mobile operator jointly owned by Vodafone and Vivendi, has agreed to increase its stake in its fixed-line rival Neuf Cegetel to 70 per cent and plans to buy out the company as it looks to strengthen its position to better compete with France Telecom.