I'd say nef has the nail on the head
MAPlc group has long wanted to look at itself as being the "expert" at providing airport management.
(I'm not claming they are ... just that it's long been their objective
)
It's consistently provided returns for it's shareholders.
To take full advantage of any break up of BAA will need more investment than MAPlc group are likely to be able to raise alone.
So wouldn't Peel Holdings fit the bill for an ideal partner .....?
They provide the bulk of the funds, MAPlc provide the "expertise" and they agree on how to split the spoils.....