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Article: Kenya Airways abandons bid to share Air Tanzania
- Article from:
- Xinhua News Agency
- Article date:
- September 20, 2002
CopyrightCopyright 2002 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Kenya Airways abandons bid to share Air Tanzania
NAIROBI, Sept. 20 (Xinhua) -- Kenya Airways (KA) has abandoned
its bid to acquire 49 percent shareholding in Air Tanzania, the
Tanzanian national carrier, the Daily Nation newspaper reported
Friday.
Kenya Airways has instead submitted an alternative proposal to
Air Tanzania Corporation (ATC) on the formation of a new regional
carrier to cater for the transportation needs in East Africa.
In a statement issued in Nairobi, Kenya Airways said the decision
to withdraw its bid for ATC was arrived at "after careful evaluation
of the potential impact of the acquisition on share holder value."
Kenya Airways said it believed that the East ...