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Hochtief moots City airport bid

LONDON City Airport could be the latest to fall into foreign ownership after Hochtief emerged as one of the bidders.

The airport, which mainly serves City businesspeople, has been put up for sale by Irish businessman Dermot Desmond. It is expected to fetch around £440 million.

The German construction firm confirmed it would make a final decision on whether to bid in the next few weeks.

A spokeswoman said: 'In four weeks, the documents calling for bids will be available and then we'll take a look.'

London City Airport opened in 1987. Mr Desmond bought it from Mowlem eight years later for £23.5 million.