October 11, 2016 / 4:55 PM / a year ago

UPDATE 1-Monaco confirms in talks to buy Nice airport stake

(Releads with confirmation of talks)

PARIS, Oct 11 (Reuters) - Monaco said on Tuesday it was close to a deal to purchase a stake in the newly-privatised Nice airport from the winning consortium led by Italy’s Atlantia .

Talks with Nice-Cote d‘Azur’s new owners “have intensified and should lead to an agreement” that would see the principality buy a 150 million euro ($168 million) holding, Monegasque Finance Minister Jean Castellini told Reuters by email.

Concession operator Atlantia, its Rome airport subsidiary and EDF, the French power utility, agreed in July to purchase a 64 percent stake in the airport, whose privatisation is expected to raise 1.2 billion euros.

BFM television reported earlier that Monaco was seeking a 5 percent holding and also wanted to change the airport’s name to Nice-Monaco or Nice Monte-Carlo.

However, Castellini said the name was “not an issue and is not part of the negotiations”. ($1 = 0.8928 euros) (Reporting by Gilles Guillaume; Writing by Maya Nikolaeva and Laurence Frost; Editing by Andrew Callus)

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