Australia Travel Guide
RICHARD Branson’s Virgin Group yesterday said it does not intend to sell any of its 25.1 per cent stake in low cost carrier Virgin Blue, rejecting a $1.90 per share bid from Patrick Corp.
In doing so it sparked a war of words from Patrick’s Chris Corrigan, who got himself into trouble with the stock exchange over his put down of merchant banker Grant Samuel’s valuation of the airline.“Virgin Group does not intend to sell under the current offer and urges all Virgin Blue shareholders to take note of the advice given in the Virgin Blue target statement which values the shares at a much higher price than that offered by Patrick Corp,” said David Baxby, chief executive of Virgin Management Asia Pacific.
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