SHARES IN SAS CONTINUE TO CLIMB ON SALE RUMOURS

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By TESTCustomwebLP TESTCustomwebLP January 5, 2011 21:17

SHARES IN SAS CONTINUE TO CLIMB ON SALE RUMOURS

Shares in SAS traded 11% higher yesterday on continued speculation over the possible sale of the Scandinavian airline. Yesterday morning the Norwegian Minister of Trade and Industry, Trond Giske, was reported that the state is prepared to sell its 14.3% stake in SAS under certain conditions but said there were no “concrete plans” to do so at this time.

Nevertheless, the speculation continued and in afternoon trading SAS shares were up SEK2.30, or 9.2%, at SEK27.30 on the Stockholm stock exchange.

The share price rose 11% on Monday when Danish media speculated that a bidding war is expected from Lufthansa, Air-France-KLM, Deutsche and British Airways. It has long been discussed that the Swedish, Danish and Norwegian governments will put their combined 50% stake in SAS up for sale, which gave extra credence to the rumours.

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By TESTCustomwebLP TESTCustomwebLP January 5, 2011 21:17
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