Costello says shareholders can prevent takeover
Federal Treasurer Peter Costello says that Qantas shareholders who object to the APA purchase of Qantas can simply refuse to sell their shares!
With significant and key institutional shareholders seemingly ready to trash the deal, Mr Costello said shareholders could prevent the takeover if they did not agree with it, adding that he told a “very prominent journalist” who opposed the bid to make his point by not selling the shares, “I asked him what he was doing with his shares and he said, “Oh, selling”.
I said to him, “If you don’t want the bid to go through and you are a shareholder, don’t sell them’,” and he said. “It won’t happen.”
With the APA bid conditional 90% of shareholders accepting the deal, Qantas shares continued to fall, closing Qantas yesterday doen another cent to $5.04 a share and at a 41% discount on the APA bid price.
Mr Costell told ABC radio, “If you are a shareholder in Qantas and you don’t want to sell, then nothing will change in relation to the ownership because the bidders are required to get overwhelming support before the bid will go through.”
Mr Costello also re-promised yesterday Qantas would never be majority foreign-owned while he was Treasurer, with the Qantas Sale Act already prohibiting foreign investors owning more than 49% of the airline.
Report by The Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025