favourite for olympic village

See below article from Reuters a few hours ago...

LONDON, Feb 9 (Reuters) - A team led by Australia's Lend Lease Corp. Ltd. (LLC.AX: Quote, Profile , Research) has become the favourite to win a multimillion pound contract to develop houses in London ahead of the 2012 Olympics, the Times newspaper reported on Friday.

The winning bid to build up to 5,000 houses in Stratford City -- a site in the east of the capital next to the planned Olympic village -- was expected within days, the newspaper said.

It quoted unnamed sources close to Westfield Ltd (WDC.AX: Quote, Profile , Research), the Australian firm with the rights to build most of the 4-billion-pound ($7.78 billion) Stratford City project, as saying the Lend Lease consortium was favourite.


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Other members of the group included Lend Lease's UK arm -- Bovis Lend Lease -- First Base Homes and East Thames Housing Group, according to the Times.

France's Bouygues (BOUY.PA: Quote, Profile , Research) was part of a rival consortium, a company spokesman said in an email.

Bovis Lend Lease, First Base Homes and East Thames Housing Group were not immediately available for comment.


Been heavily sold down over the last few days but this respresents a very good buying opportunity. If they do happen to win this contract would be a very important and profitable deal.