 BA considers Iberia takeover move
British Airways has said it is considering making a takeover bid for the Spanish carrier Iberia. BA said it had approached a number of private equity companies about forming a consortium to manage a bid.
But the UK airline, which already owns 10% of Iberia, ruled out making a lone bid for the Spanish firm.
Iberia said last month that the private equity firm Texas Pacific Group was targeting the airline with a 3.4bn euro (£2.3bn; $4.5bn) takeover approach.
BA's announcement followed similar interest in Iberia from the German airline Lufthansa.
Iberia was "of strategic interest to Lufthansa in principle", a spokesman for Germany's biggest airline said.
Takeover rumours surrounding Iberia have seen the airline's shares soar by almost 80% in the last six months.
Analysts have said an "open skies" deal between the US and Europe is set to drive consolidation in the airline industry.
(BBC)
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