11/02/12, 01:05:57 EST

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Airline Mexicana eyes rival Aeromexico

reuters.com

Grupo Mexicana de Aviacion, which runs No. 2 airline Mexicana, has told Mexico's anti-trust body of its intention to bid to buy top carrier Aeromexico, according to a source close to the sale.

The offer by Grupo Mexicana de Aviacion would be a third bid for Aeromexico and its holding company, Consorcio Aeromexico, which the government wants to sell.

"The group that presented the document (to the regulator) is called Grupo Mexicana de Aviacion," said the source, who asked to remain anonymous.

Hoteliers Grupo Posadas bought Mexicana from the government in 2005 for just over $150 million.

A source at the Federal Competition Commission, the Mexican regulator, said on Tuesday that Posadas had notified its intention of bidding for Aeromexico. Posadas said on Wednesday that it was not going to bid for Aeromexico.

An investor group, including several wealthy Mexican families and bank Banamex owned by Citigroup, launched a $151 million bid for the state-run airline on Wednesday.

The Saba family -- one of the country's wealthiest with interests in real estate, textiles and pharmaceuticals -- made a $100 million bid for Aeromexico in August.

The government has not said when it will make a decision on the bids. Previously it planned to sell its 62 percent stake in Aeromexico on the stock exchange, unless suitable offers were made for the airline.

 Printable Version  | published Sep 16, 2007