Source: AAP
Labor seeks more scrutiny of Qantas bid
FEDERAL Labor has called on the private equity consortium seeking to buy Qantas to submit details of its bid to foreign investment and competition watchdog scrutiny.
Labor's treasury spokesman Wayne Swan also called on Treasurer Peter Costello to encourage the consortium to seek such a referral.
Mr Swan acknowledged that Airline Partners Australia's (APA) bid for Qantas had been structured to fall within the requirements of the Qantas Sale Act, the Airports Act and the Foreign Acquisition Takeovers Act.
“(But) Federal Labor calls on the buyers to seek from the Treasurer a referral of the bid to the Foreign Investment Review Board (FIRB) and the Australian Competition and Consumer Commission (ACCC),” he said.
Mr Swan said Qantas was a critical economic asset as well as a national icon.
“This buyout bid must be judged on whether it is in the “national interest” and the “public interest” in accordance with foreign investment and competition principles,” he said.
“The definition of the national interest and the “public interest” is a legitimate debate for Australia to have and it's about time we had it to guarantee Australia's security when it comes to strategic national assets and essential services like those Qantas provides.”