RockBass14
Well-known member
- Joined
- May 18, 2005
- Posts
- 54
Sorry if this has already been discussed. This story comes from
http://www.negocios.pt/default.asp?...Id=260657&Sent=1&ListComment=1&CpMsgId=321478
English News
The Portuguese State will buy FLYi Inc
Lisbon - A source from the department of transports said that the Portuguese state is very interested in buyFLYi Inc. The state company TAP -Transportes Aéreos Portugues could launch a takeover to FLYi Inc. This plan of the takeover of FLYi Inc is the same that TAP did with the Brazilian airlines VARIG. The same source said Portugal's TAP will supported its plan to invest in debt-ridden American airline and keep the loss-making national flag carrier flying. The source said the Portuguese State could notifie tomorrow the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition FLYi Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid. The Portuguese State will launch a takeover bid for FLYi Inc with the payment of 1,5 euros for each of the that responded to the tender offer, this initial offer could reach the limit of price of 1,85 euros for each share of the american company. The same source said the deal would not affect Portugal's public deficit and would allow FLYi Inc to maintain its domestic services.
http://www.negocios.pt/default.asp?...Id=260657&Sent=1&ListComment=1&CpMsgId=321478
English News
The Portuguese State will buy FLYi Inc
Lisbon - A source from the department of transports said that the Portuguese state is very interested in buyFLYi Inc. The state company TAP -Transportes Aéreos Portugues could launch a takeover to FLYi Inc. This plan of the takeover of FLYi Inc is the same that TAP did with the Brazilian airlines VARIG. The same source said Portugal's TAP will supported its plan to invest in debt-ridden American airline and keep the loss-making national flag carrier flying. The source said the Portuguese State could notifie tomorrow the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition FLYi Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid. The Portuguese State will launch a takeover bid for FLYi Inc with the payment of 1,5 euros for each of the that responded to the tender offer, this initial offer could reach the limit of price of 1,85 euros for each share of the american company. The same source said the deal would not affect Portugal's public deficit and would allow FLYi Inc to maintain its domestic services.
. You gotta be careful though...bad tempers...
