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BAA submits final bid in auction of Hungary's biggest airport

BAA Plc, the operator of London's Heathrow airport, submitted a final bid to buy Budapest Airport Rt, operator of Hungary's international airport. The Hungarian Privatization and State Holding Co. is selling a 75% stake in the airport, which is on the eastern outskirts of the city. The other bidders are Fraport AG and Hochtief AG after Macquarie Airports and Copenhagen Airports A/S dropped out this month. Hungary is the first country in the region to put its main airport company up for sale and wants the buyer to upgrade and expand runways and terminal buildings. London-based BAA "confirms that it has submitted a final binding bid today," the company announced.