TURKEY'S CELEBI ENDS TALKS TO BUY NEWCO AIRPORT SERVICES

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TURKEY'S CELEBI ENDS TALKS TO BUY NEWCO AIRPORT SERVICES
02.07.2010 11:33

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İSTANBUL (İHA) - Turkish airport ground services firm Celebi Hava Servisi AS (CLEBI.IS) said Friday it has withdrawn its non-binding bid to buy 100% of Spain's Newco Airport Services.

In a statement to the Istanbul Stock Exchange, Celebi said the talks with the company were terminated as some serious uncertainties appeared in the recent period on the company's financial and legal structure, and recent developments in Spanish economy could pose significant risks on Newco's operations.

At the end of 2009, Celebi said it submitted a non-binding bid to buy 100% of Newco Airport Services.

At 0810 GMT, Celebi's shares were trading unchanged at TRY13.90 amid a 0.65% higher overall market.
(SB-SB-ENG)

02.07.2010 11:33:27 TSI
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