U.K. AIRPORT AUTHORITY TO BE PRIVATISED IN SUMMER
formerly the
British Airports Authority - is to be privatised in June or
July of this year, Transport Secretary John Moore told
Parliament.
    He said BAA's 7,000 employees would each be given free
shares in BAA worth a nominal 100 stg. Employees would also
receive two free shares for each purchased, up to a maximum of
400 stg worth of free shares.
    BAA runs London's Heathrow and Gatwick airports, Stansted
and the Scottish airports. The flotation is to be managed by
<Country Bank Ltd>. Private studies have put total proceeds of
the BAA sell-off at just over one billion stg, analysts said.
 Reuter
