Fairdeal:
For the government to pass a law you imply that LHR would be nationalised, it's owner, Ferrovial, would be compensated (at taxpayers' expense), and that taxpayers' money would fund the Thames airport and associated infrastructure. How likely is that?
Jabird:
Where do you get the £4bn figure from? BAA was delisted in 06 at £10bn. T5 alone cost £4.2bn, and is a going concern. True, market has seen better days, but LHR traffic still holding up, even if malls may be suffering a bit.
Fairdeal:
Purchase of LHR £2 bn.
Sale of LHR as the largest business center in Europe £12 bn (Foster) £40 bn (Silver).
Kerrrching !
Jabird:
BAA was one of the worst deals in history, and Ferrovial nearly went under because of it. I could sell you my house for £2 million, but that does not mean it is worth anything like this. One thing they missed, was the poor state of the infrastructure and the £mmmm that it would cost to put things right.
The valuation comes from their most recent deal. In October Ferrovial sold 6% of BAA to Alinda Capital for €320, which values all of BAA at about €5 bn, or say £4 bn. The Spanish picked up a good deal with Nationwide Bank, but lost it all and more besides with the BAA deal.
Thus what is LHR worth - £2bn??
Foster's new comments about making LHR into one huge great business park (he's been reading Pprune again), were in the Sunday Times. He estimated it would make £12 bn for the government (obviously this would have to be a government 'kerrrching', as it would need a multitude of planning permissions. ) The article is behind a pay-wall, I'm afraid.
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