Air France postpones public offer for KLM

31st March 2004, Comments 0 comments

PARIS, March 31 (AFP) - Air France said Wednesday it would delay its public exchange offer for Dutch rival KLM, which was to have been launched by the end of this month, until early April.

PARIS, March 31 (AFP) - Air France said Wednesday it would delay its public exchange offer for Dutch rival KLM, which was to have been launched by the end of this month, until early April.

"Air France and KLM being in the process of finalising public exchange and quotation documents, the launch should take place early in April," the companies said in a joint statement.

It was the second postponement of the transaction, which was first announced on September 30. It calls for the exchange of 11 Air France shares and 10 subscription certificates for 10 ordinary KLM shares.

Air France and KLM said on March 19 that the exchange should take place "at the end of the month."

A source close to the operation said the new delay did not point to a significant snag.

"There is basically no problem," a government source said, adding that "all the administrative green lights have been given."


© AFP

                                         Subject: French news

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