Brazil's Gol airline beckons foreign buyers after vote

Sao Paulo

BRAZIL'S biggest airline is opening the door to a potential suitor with a stock restructuring that will allow greater foreign ownership.

Shareholders of Gol Linhas Aereas Inteligentes SA voted on Monday to approve a measure that will reduce its dependence on the controlling Constantino family. Non-voting shareholders also gained the ability to hold board seats. That may increase Gol's appeal to investors from abroad or even lead to an eventual takeover of the US$830 million carrier, among the cheapest in the Americas.