 BAA dominates the UK airports market |
Spain's Grupo Ferrovial has said it would cooperate with any competition probe into the UK airport industry if its bid for BAA was successful. Ferrovial's comments came a day after the Office of Fair Trading (OFT) said it was to look into whether the sector, led by BAA, is competitive.
If the OFT finds any evidence, it could refer the industry to the Competition Commission for a full investigation.
BAA has so far rejected Ferrovial's �8.75bn hostile takeover bid.
Shareholder sweeteners
Ferrovial said that if its consortium was successful in its offer for BAA, it would "of course cooperate fully with any review, if the OFT does in due course decide to initiate one".
BAA operates Heathrow, Gatwick and Stansted airports, handling more than 90% of all passengers in the London area and 63% nationally.
On Thursday it revealed plans to return �750m in capital to shareholders should Ferrovial's takeover bid lapse.
It also plans to raise its dividend by 40% in the current financial year, as it aims to secure shareholder backing against Ferrovial's bid.
The Spanish firm has yet to decide whether to raise its offer for BAA.
One-Minute World News 
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