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BAA responds to Spanish claim

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The board of BAA plc has acknowledged an announcement from Grupo Ferrovial SA that it is at a preliminary stage of considering whether to make a cash offer for BAA, likely to be as part of a consortium.In a statement BAA announced that it has not received any proposal from Ferrovial and strongly advises shareholders not to take any action at this time.

The statement continues: “The board of BAA is confident about the future of its business. It has a unique portfolio of world-class airport assets, including the three regulated London airports and others in the UK, Italy, Hungary and Australia. The further development of these airports, which is supported by their relevant governments, will create substantial opportunities for the group.

The board believes that BAA is well placed to continue to generate significant shareholder value from this growing portfolio of assets.”