This from AFX
WxJx
2001-08-30 15:49 GMT: TBI to make statement on easyjet/Luton agreement tomorrow
LONDON (AFX) - TBI PLC, the airport operator facing a 516 mln stg hostile bid from Vinci SA, the French construction giant, will make a statement tomorrow regarding its agreement with easyjet PLC at TBI's 71 pct owned London Luton airport, said a TBI spokesman.
The spokesman declined to give further details.
Vinci's 90 pence-a-share offer, launched August 15, is conditional on TBI reaching a binding agreement with easyjet on passenger and baggage handling fees at Luton on terms "no less favourable" than the current deal.
easyjet's current agreement, which sees it pay TBI 5.50 stg per departing passenger and 50 pence for their baggage, expires August 31.
easyjet spokesman Toby Nicol told AFX News that the airline is still talking to TBI.
"At the moment there's no indication as to which way those (talks) will go. There's one of three options. Either we'll say we haven't reached a deal or we have or we'll just extend the negotiating period," said Nicol.
Vinci posted its formal offer document to TBI shareholders on August 25. TBI immediately reiterated its rejection of the bid.
At 3.38 pm TBI shares were up 1/4 pence at 97.
[ 30 August 2001: Message edited by: WeatherJinx ]