Italy's Autogrill considers potential offer for Alpha Airports

Italian fast-food operator Autogrill is considering an offer for Alpha Airports, the airport retailer and in-flight caterer, after snapping up a 12.5% stake in the company yesterday.

Alpha said it was not currently in discussions with Autogrill and it was consulting with advisors over the company's intentions.

The Italian operator said in a statement: "We are currently reviewing our options including whether or not to make an offer for the entire issued and to be issued share capital of Alpha Airports.

"Our] considerations are at a preliminary stage and there is no certainty that any offer will be made. Any offer is likely to be solely in cash."

Autogrill operates approximately 4,000 restaurants, cafés and fast foot outlets in motorway service stations, airports and rail stations. It also owns an operating licence for Burger King, Pizza Hut and Starbucks and trades in Italy under their own brand Spizzico.

Alpha had a turbulent 2006 when its chief executive quit following an accounting scandal that cost the company nearly £11m. Its shares were also suspended last April over accounting uncertainties on a deal with an Icelandic airline.

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By Christopher Walton

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