British Airways To Decide On Iberia Stake Next Week

November 23, 2007

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British Airways said on Friday it was considering its position regarding an opportunity to take additional stakes in Spanish airline Iberia and would decide next week.

"We have this 7 day period to consider our position on BBVA and Logista," a spokesman said.

Spanish lender Caja Madrid, which owns about 9.6 percent of Iberia, this week said it wanted to buy a 6.42 percent stake in the carrier from distribution firm Logista and a 7 percent stake held by bank BBVA.

Under a core shareholders agreement, British Airways, which holds 9.95 percent of Iberia, has a right of refusal over both deals.

BA is part of a consortium including US private equity firm TPG which has proposed a takeover of Iberia but the British airline has said it is not interested in investing funds as part of the process.

(Reuters)