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Qantas to revise Hazelton bid

By Phil Boeyen, ShareChat Business News Editor

Tuesday 12th December 2000

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Qantas has indicated plans to revise its A$1.20 a share bid for Australian regional airline Hazelton in the face of Ansett's higher offer.

Qantas today reaffirmed its intention to acquire all of the ordinary shares in Hazelton and says it will provide details of a revised bid once acceptable regulatory clearance is obtained.

In the meantime the company is recommending that Hazelton shareholders do not accept Ansett's A$1.35 offer until further communication from Qantas.

Ansett yesterday reduced its minimum acceptance condition in its bid for Hazelton Airlines from 90% to 50.1% and reconfirmed its offer of A$1.35 per share to Hazelton Airlines' shareholders.

The Air New Zealand (NZSE: AIRVA) subsidiary has called on Hazelton shareholders to act quickly to accept its offer, saying it is in the interests of the airline and its staff to put an end to speculation, and to move towards certainty.

Ansett describes itself as a "genuine bidder, committed to Hazelton business development and to maintaining and enhancing the quality of New South Wales regional air services."

Both Qantas and Ansett are believed to be eager to take control of Hazelton to gain access to the more than 400 lucrative take-off and landing slots the airline has at Sydney's busy Kingsford Smith airport.

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