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Lufthansa preferred bidder for Austrian -report

VIENNA, July 24 (Reuters) - A review of future options for loss-making Austrian Airlines (AUA) (AUAV.VI: ) commissioned by its board recommends selling a stake to Germany's Lufthansa (LHAG.DE: ), an Austrian magazine reported on Thursday. Austrian weekly magazine Format reported that the review by consultancy Boston Consulting Group contained "a clear preference" for the partial sale of the Austrian government's 43-percent stake in AUA to Lufthansa. Hopes that a partial sale could happen before Austria's snap election due on Sept. 28 helped lift AUA's shares by as much as 12 percent to 3.16 euros on Thursday, extending Wednesday's 9-percent rise to the highest level in three weeks. At the current share price, the government's entire stake is worth 104 million euros ($163 million). Lufthansa traded down 2 percent at 15.58... [read full story]                    

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