British Airways To Decide On Iberia Stake Next Week
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.