BAA agrees sale of Britain's Gatwick airport: FT

Airport operator BAA has agreed to sell Gatwick, Britain's second busiest airport, for 1.5 billion pounds (2.5 billion dollars, 1.6 billion euros), the Financial Times reported.

Citing people familiar with the matter, the FT reported on its website that the deal with Global Infrastructure Partners, which already own London City Airport, will likely be announced before markets open on Wednesday.

The Competition Commission approved details of the sale late Tuesday, it said.

In August last year, British regulators called for BAA to sell three of its seven airports in Britain -- two in London and one in Scotland -- in order to end a dominance they said hurts both passengers and airlines.

A consortium led by Spanish construction group Ferrovial bought BAA in 2006 for 10.23 billion pounds (11.39 billion euros or 15.06 billion dollars).