From the Financial Review
Tesna ends talks on Ansett. .Feb 27 09:07. .Giles Parkinson
. .Mr Solomon Lew and Mr Lindsay Fox said on Wednesday that talks between their syndicate, Tesna Holdings, and the administrators of the failed Ansett Airlines have ceased.
Tesna said agreement could not be reached on assigning domestic terminal leases to the syndicate and on matters such as environmental risk and the use of Ansett's IATA designator code.
"Discussion have taken place with the administrators concerning options for resolving the outstanding issues and finalising the sale,'' Tesna said in a statement.
"In light of those discussion, and in consideration of our advice, we have reluctantly reached the conclusion that the sale agreement is not capable of completion, and that the process involving Tesna and the administrators cease.''
The statement said the failure of the deal was not attributable to the failure of merger talks with Virgin Blue.
"We have spent the past five months doing little else but working towards the finalisation of the Ansett purchase,'' the statement said.
"We have committed an enormous amount of resources, our professional advisors have worked tirelessly, but the obstacles and hurdles we have encountered from a range of parties have had the effect of consuming both resources and time.
"In all of the circumstance and to our great disappointment, time has run out.''
. .I hope to all, still with Ansett some good comes of this shocking outcome