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Austrian raises price for airline
Austrian's Takeover Commission has increased the price Lufthansa must pay for the state airline. The Commission has asked the German airline to pay €4.49 per share rather than the €4.44 it originally offered for the Austrian state holding company OeIAG's 42% stake. The holding company selected Lufthansa as the most suitable bidder for the stake which the Austrian government wants sold.

Air France, KLM and the Russian domestic carrier S7 Airlines had also shown interest in buying the stake. Shares in Austrian have risen by 34% since Lufthansa announced its offer. They are currently at €3.56, still significantly higher than the bid. Reuters reported that Lufthansa said it expected to launch the public tender for shares in the last week of February. Its bid for Austrian is conditional on reaching a 75% stake. Tatiana Rokou - Tuesday, December 30, 2008