E&Y to advise on airports takeover

Ernst & Young will advise the Civil Aviation Authority on financial
matters as it prepares to deal with takeover bids for BAA, the airports group.

Bidders are already lining up and may include Australia’s Macquarie Bank and
Spanish consortium Ferrovial.

CAA acts as an economic regulator for BAA’s three London airports at
Heathrow, Gatwick and Stansted.

CAA’s policy approach in setting the price-cap regime for the next five-year
control period is expected to play a very significant role in the takeover
battle for BAA, the FT reported.

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