The prospects of a takeover bid for budget airline Easyjet appear to have fallen after Icelandic firm FL Group sold its stake in the carrier.
Speculation had risen earlier this year that FL Group, which owns Icelandair, might make a bid for Easyjet after it increased its stake in the airline.
However, FL Group has now sold its stake for about 325m euros ($397m; £228m), making a profit of 140m euros.
FL said it was selling its stake to focus on new investments.
“FL Group first invested in Easyjet just under two years ago and the investment has proved to be a great success which has provided a foundation on which we have built FL Group,” said FL Group’s chief executive Hannes Smarason.
“We have enjoyed being an investor in Easyjet and believe that the company is well placed within its industry and has a bright future.
“We are working on several interesting investment projects and the sale gives us the opportunity to look at more projects and of greater scale.”
By: adamdowley - 5th April 2006 at 13:47
a somewhat boring anticlimax….
By: allmcc - 5th April 2006 at 11:50
So did the city
Thats why their share price has dropped by nearly 10%!
By: andrewm - 5th April 2006 at 11:34
So did the city
By: LGKR - 5th April 2006 at 11:13
I always thought their stake would get bigger and bigger!
Sign In
April 5, 2006 at 7:56 am