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CAIR: Govt. to decide for possible acquisition

25/01/2006 14:03
Cyprus Airways announced on Wednesday that the expression of interest for the acquisition of the national carrier by two companies of Greek and US interest is an issue that concerns the Cyprus government, after newspaper “Phileleftheros” reports that the two companies are interested in acquiring at least 51% of Cyprus Airways.

In its announcement, the Company clarified that representatives of Olympic Investors and York Capital Management requested (and had) a meeting with the Cyprus Airways Chairman and General Manager to discuss the issue.

“Representatives of Olympic Investors and York Capital Management held a meeting with the Cyprus Airways Chairman and General Manager in order to brief the Company on the interest that Olympic Investors had expressed in the past for the acquisition of the majority stake in Olympic Airways and to express their wish to have similar investments in Cyprus”, the announcement reported.

Cyprus Airways insisted that the issue lies within the competence of the government.