Qantas bid speculation

Continued speculation that Australia's Qantas Airways was about to be taken over by a private equity company has been quashed with the Australian government indicating that it would oppose any takeover after some bid speculation.

The prospect of a Qantas takeover was discussed at senior level within the Government, with the Transport Minister and the Treasurer both inclined to oppose any private equity offer, The Australian said in a front-page story last week.

The Government is expected to throw out any private equity bids as not being in the national interest and is looking at ways to block any deals should they arise, the daily added.  However there is still concern regarding the airline’s future with the shares falling and the unions far from happy with severe job cutting expected and the setting up of an Asian offshore operation.

A consortium including Macquarie Group and private equity firm Texas Pacific Group mounted a failed takeover bid for Qantas in 2007. www.qantas.com

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