Spanish savings bank Caja Madrid does not want to boost its share in airline Iberia past 23 percent, a spokesman said on Tuesday.

"We're not going to boost our stake in Iberia over 23.3 percent," the spokesman said.

Caja Madrid has 10 percent of Iberia but has offered to buy two stakes on sale by BBVA and Logista.

Once these purchases have gone through, the savings bank will talk to British Airways, the spokesman said.

British Airways said on Monday it had pulled out of a EUR3.4 billion euro (USD$5.05 billion) takeover bid for Iberia but already holds 10 percent in the Spanish airline.