We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Engineering numbers

13 February 2006 By Fiona Maharg-Bravo

Given BAA’s utilitystyle cashflows, Ferrovial could borrow £12bn against it close to the £14.6bn they’d need for a 900p a share offer. True, BAA’s costly expansion plans could be a problem. But Ferrovial’s seasoned financial engineers could park these offbalance sheet.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)