Qantas

November 24, 2006

Drive on the M5 motorway, half-owned by Macquarie-advised Sydney Roads Group, to Sydney Airport, whose biggest investor is Macquarie Airports, then pile their baggage on to Macquarie’s trolleys and fly on planes (Qantas) owned by the investment bank. This scenario is a possibility if Macquarie can obtain the Australian airline company Qantas.

The Australian bank offers, together with the American investors Texas Pacific Group, ten billion Australian dollar for Qantas. The news sparkled some political reactions. The majority of the shares of Qantas have to be in Australian hands. Foreign ownership is not a possibility.

Moreover, some politicians aren’t happy with the idea that Macquarie and Texas Pacific is said to split the thing up. Some Qantas-divisions would be incorporated in the different companies of Macquarie.

Qantas is a national symbol for Australia and a very important carrier Down Under.

In other financial news: there is speculation that the Belgian brewer InBev is preparing a bid on Fosters.

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