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Austria's Niki Lauda sells airline to Air Berlin

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Goose Posted: Tue, Nov 8 2011 8:35 PM
Former Austrian Formula One champion Niki Lauda announced Tuesday he was selling all his remaining shares in his low-cost airline Niki to its German partner Air Berlin.

"Air Berlin hereby takes over 100 percent of Niki," Lauda told a joint press conference in Vienna with the chief of Germany's second biggest airline, Hartmut Mehdorn.

Lauda previously owned 50.1 percent in his airline

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