BAA secures top place in airports auction

Airports operator BAA was in pole position to secure control of Budapest Airport today after putting forward a £1.26bn (€1.85bn) bid.

The group, which runs London’s Heathrow, Gatwick and Stansted airports, said it was now in talks to try and reach agreement on a deal after placing the top bid in a three-way battle.

The Hungarian privatisation agency said it was not announcing a winner in the race for the airport but was announcing an “order” among the bids. It said the tender process remained open until a contract was signed.