Branson wants full ownership of Virgin Atlantic
Virgin Atlantic chairman Sir Richard Branson wants to buy back Singapore Airlines' 49-per cent share of the carrier he founded in 1984.
By Agencies |
LONDON: Virgin Atlantic chairman Sir Richard Branson wants to buy back Singapore Airlines' 49-per cent share of the carrier he founded in 1984, according to a newspaper interview published Tuesday.
Branson, who holds 51 per cent of the carrier, told London's City A M financial daily that he would consider buying back the stake he sold to Singapore Airlines for 600 million pounds in 1999.
"It is something we would consider," the paper quoted Branson as saying. "We would look at the price and see if it is a fair one, and then see whether to buy the shares back in or not."
A sale would value the stake at between 900 million pounds and 1.0 billion pounds (1.3 and 1.4 billion euros, 1.8 and 2.0 billion dollars), according to analysts.
The Daily Telegraph reported Monday that Singapore Airlines was reviewing the future of its stake in a move that could lead to a sale or a stock market flotation.
Singapore Airlines is 55 percent owned by state-linked investment company Temasek Holdings of Singapore.
Branson, who holds 51 per cent of the carrier, told London's City A M financial daily that he would consider buying back the stake he sold to Singapore Airlines for 600 million pounds in 1999.
"It is something we would consider," the paper quoted Branson as saying. "We would look at the price and see if it is a fair one, and then see whether to buy the shares back in or not."
A sale would value the stake at between 900 million pounds and 1.0 billion pounds (1.3 and 1.4 billion euros, 1.8 and 2.0 billion dollars), according to analysts.
The Daily Telegraph reported Monday that Singapore Airlines was reviewing the future of its stake in a move that could lead to a sale or a stock market flotation.
Singapore Airlines is 55 percent owned by state-linked investment company Temasek Holdings of Singapore.
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