Spain asks for 5.3bn euros in airports auction

MADRID: Spain's government on Friday said it hoped to raise at least 5.3 billion euros ($7.50 billion) from selling concessions to run the country's two biggest airports at an auction due to begin on July 30.

The proceeds of the privatisation, and other asset sales planned by the government, would reduce the government's borrowing requirements and help to bring its budget deficit back to within limits set by the 17-nation euro currency zone.

Copyright Reuters, 2011