Fraport rules out cap hike for takeovers: paper
FRANKFURT: Frankfurt airport operator Fraport will shun capital increases to fund any takeovers, the finance chief of the Frankfurt airport operator told a newspaper.
"We don't want a capital increase. We don't need one and it would also be the wrong signal to our shareholders.
What we could do is issue a bond again when the time is right," CFO Matthias Zieschang said in an interview with German daily Boersen-Zeitung published on Saturday.
Fraport said on Thursday it made a joint bid with a Deutsche Bank fund to buy a stake in Hochtief's airports unit.
Asked about the effects of a possible economic downturn on Fraport's business, CFO Zieschang told Boersen-Zeitung Frankfurt's airport has traditionally been unable to meet demand due to the limited runway space.
"This demand overhang has been subject to fluctuations but it was always there and it provides a safety buffer in the case of a crisis.
Copyright Reuters, 2011
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