Macquarie Airports surges 10% on reorganisation – Airports Share Wrap
Macquarie Group announced that it will relinquish control of Macquarie Airports (MAp), with the fund to internalise its management and cease the payment of much-maligned fees to Macquarie. MAp stated it has acted to "reduce the gap between MAp's share price and the value of the airports it manages". In anticipation of the move, MAp's shares soared 10.5% yesterday, before a trading halt was put in place on both MAp and Macquarie Group shares. MAp shares have drifted lower in early trading this morning.
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