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Austrian Airlines Saudi stake deal dropped-report

Sat May 3, 2008 5:01pm EDT

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VIENNA, May 3 (Reuters) - A Saudi-Austrian investor has pulled out of a deal to buy a stake in Austrian Airlines (AUAV.VI), an Austrian magazine reported on Saturday.

The airline's main shareholder, state holding company OeIAG, had agreed terms in March for Sheikh Mohamed Bin Issa al Jaber to take a stake via a capital increase.

But Profil magazine, citing a lawyer's letter, said he had pulled out of the deal on April 30. The magazine said the stake would have been worth 150 million euros ($232 million).

Austrian Airlines has a market capitalisation of around 350 million euros.

Neither OeIAG nor the airline could be reached for comment. (Reporting by Sylvia Westall; editing by Paul Bolding)



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