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Cimber Sterling shares increase following reports of takeover

30-May-2011 12:32 PM

Cimber Sterling shares increased as much as 59% on 27-May-2011 following reports that Ukrainian billionaire Igor Kolomoisky is in talks to purchase the company (Reuters, 27-May-2011). The carrier stated that it is in talks with "a number of potential investors" but it had not reached any agreement. The aim is to reportedly merge the LCC with Swedish carrier Skyways, which Mr Kolomoisky controls. Skyways CEO Lars Ake Bertilsson stated: "We aim to create a strong northern European airline under the name Skyways, and we absolutely would like to be present in Denmark, Norway and Sweden where it would be obvious to start."