5,60 AUD for a Qantas share

December 15, 2006

The Qantas board accepted the bid worth 11 billion Australian dollar. The airline company is taken over by a group of foreign and Australian investors. Some participants of the consortium are Macquarie, Texas Pacific Group and Onex from Canada. 60% of the shares will remain Australian, but Qantas will be delisted from the stock exchanges.

The new owners of the airline company don’t want to change the strategy. Qantas will not be broken into pieces, they said. But it isn’t clear what they will do with the national carrier.

Politicians fear that the bid will damage the airline and that the public will chose another carrier. Moreover, they think this deal can have a backlash on them as well, as next year Australians go to the poll.

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