Last week saw Manchester Airports Group (MAG) announce an official effort to acquire Stansted airport.

Airport news for Stansted,Manchester on 22/10/2012.

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Last week saw Manchester Airports Group (MAG) announce an official effort to acquire Stansted airport.

Rumours have been circulating for weeks that the firm, which owns Bournemouth, Manchester and East Midlands airports, was a front-runner to be the next owner of the facility. Joining the effort is investment firm Industry Funds Management (IFM), which will reportedly get 35 per cent stake in Stansted if the bid is successful.

Earlier this year authorities elected to uphold a 2009 ruling by the UK Competition Commission that the British Airports Authority must sell Gatwick, Stansted and one of its airports in Scotland. The Ferrovial subsidiary has since sold Gatwick and Edinburgh airports, although the company has continued to fight the right to retain Gatwick until its appeal failed in August.

Manchester Airports Group head official Charlie Cornish said in a statement that the move will provide additional value for the group’s shareholders; the firm is currently 55 per cent owned by Manchester City Council, whilst the remaining stake is owned by nine other local councils in the region.

Cornish told media that MAG has a “proven track record” of successfully operating profitable airports via a unique approach to aviation management, retail space, parking and customer service.

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