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BAA initiates talks over sale of Stansted

Airports operator BAA has started sounding out investment banks about a possible sale of Stansted airport next year, weekend reports said.

The move comes as BAA considers whether it should seek a judicial review of the Competition Commission’s decision in July to force the company to sell Stansted and either Edinburgh and Glasgow airports.

The commission told BAA to start the process of selling Stansted within three months, followed by the sale of either of the two Scottish airports. A BAA spokesman told Dow Jones Newswires it still has until September 19 to lodge an appeal and will make a decision in the next two weeks.

Some of the former bidders for Gatwick, which was sold to Global Infrastructure Partners in 2009, are expected to be interested in Stansted. They included a consortium comprising Canadian fund Borealis and Manchester airport, and a group of investors led by Citigroup’s infrastructure fund.

Previous reports suggested Stansted may sell for £1.2 billion but BAA’s regulated asset base is now £1.35 billion, according to The Telegraph.

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