IF THEY knew then what they know now it is very unlikely that Spanish infrastructure group Ferrovial would have swooped six years ago to buy BAA, the privatised former British Airports Authority.
BAA’s decision yesterday to give up the fight to keep Stansted airport after a three-year battle with the Competition Commission is just a continuation of the way the wind has been blowing.
The wheels have not come off Ferrovial’s British adventure, but the Spanish are clearly chastened by a regulatory clampdown that has demolished the arithmetic that supported its move on BAA in 2006.
No comments:
Post a Comment