A 10% stake in BAA is to be sold by Spanish infrastructure group Ferrovial, which owns 55.87% of the airports operator, according to The Times.
Ferrovial said it would use the sale to fund other new infrastructure and services projects and to pay down debt, but it has not said how much it expects to raise. The group’s debt is £21.7bn.
BAA was forced by competition authorities to sell Gatwick last year, which lost Ferrovial €142m, and it must also sell Stansted and either Edinburgh or Glasgow on competition grounds.
By Linsey McNeill
