29-Jul-2009 1:20 PM
Austrian Airlines' shares jump as Lufthansa pursues an extension for its takeover
Analysis
Shares in Austrian Airlines surged 7.1% yesterday, as Lufthansa pursued its proposal to takeover the carrier. Lufthansa, in agreement with Austrian's state-owned majority shareholder, Österreichischen Industrieholding AG (ÖiAG), filed an application with the Austrian Takeover Commission to prolong its self-imposed deadline for the proposed takeover from 31-Jul-09 to 31-Aug-09, as "formal approval" by the European Commission "cannot be obtained in due time".
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