You are here

Conditional interest by Triple Five

06/07/2012 11:10
In an announcement released on Friday, Cyprus Airways said that the interest of Triple Five is subject to certain conditions that must be agreed with the government, the major shareholder, before submitting the final proposal.

CAIR confirmed Triple Five’s interest in investing in the Company.

Earlier, the reports on the submission of the proposal were confirmed to the CNA by CAIR spokesman, Kyriakos Kyriakou.

“In early May, we had announced to the CSE that Triple Five had informed CAIR in writing on May 4, 2012 that it is interested in acquiring a majority stake in its capital and had asked by the company certain data for its financial condition, its activities and other related information”, he added.

Then, we told the stock exchange that Triple Five would form its final decision on the issue after evaluating the data.

“Now, basically what happens is that the company's management will evaluate the whole situation”, he concluded.