Qantas for Sale ?

The Macquarie Bank in Australia (ASX:MBL) is part of a group which has bid $A10 billion to buy Qantas. The Australian Government will have a big say on whether the bid succeeds, via the Foreign Investment Review Board. My understadning of this is that 51% must be kept undr Australian control, and only 49% can go to foreign hands. Macquarie has joined the US private equity group, Texas Pacific Group, in its $A5.20 per share bid for Qantas. However, institutions are dubious about this offer gaining sufficient support. Meanwhile, there are conflicts of interests involved, because Macquarie has a fund that is the largest stakeholder in Sydney Airport. There has been some political anger at the move, as many want Qantas to remain largely in Australian hands.

This is a good sign for recent investors in qantas who have wanted to own an icon Austrlaian business. I wrote a short time ago on QAN being a good buy when it was around $3. At $5.00 it is a great price to sell. There is a lot of political risk at th moment with this share and although I don't own any qantas shares I would be selling into this news.

Good Luck Investing