Herman de Wulf/BRUSSELS
BELGIAN JOURNALISTS, keen to find out the latest in the tense political negotiations over the sale of Sabena, have been flocking to a small rural grocery in the heart of Belgium's peaceful countryside.
The bizarre incident started with a fax from the country's transport minister setting a July deadline for Air France to make a decision on the sale of its stake in the Belgian national carrier.
Because of an inspired dialing mistake by a ministry clerk, the highly confidential fax was sent not to Air France boss Christian Blanc, but to the grocer's shop at Rijkervorsel.
The grocer was surprised to hear that the Belgium Government wanted his agreement on an offer to back the BFr4 billion ($140 million) Air France had invested in Sabena in 1992. He was asked to give his consent within days.
The fax calls for the transaction to be signed before the end of July, so paving the way for Swissair to purchase a 49.5% stake in the airline. The Belgian Government reveals that it will pay BFr5.9 billion to the Finacta consortium, led by Air France, for its 37.5% share in Sabena.
The consortium, which includes Belgian institutional shareholders, will essentially recover its entire investment despite Sabena's continuing losses.
The European Commission is expected to give the green light to Swissair to join Sabena by the end of July, says the fax. It is not known whether the grocer has yet given his consent.
Source: Flight International
