MAG, currently owned by Greater Manchester's 10 councils, has agreed to sell a 35 per cent stake in itself to Australian investment group Industry Funds Management, in order to raise the cash to swoop for Stansted. Ferrovial is being forced to sell Stansted by competition authorities and yesterday said it was excluding Ryanair, which accounts for 70 per cent of the airport's traffic and has 41 planes based there, without giving any reasons. In a statement, it said: "Since Ryanair does not wish to prejudice other potential investors in Stansted, it has written to all investors/consortia it has held discussions with to advise them that Ryanair will not participate in the sale process or seek a minority stake."