BA will not confirm reports of a joint bid with Texas Pacific Group for Iberia |
|
|
|
Published
:
Fri, 11 May 2007 09:12
|
MADRID (Thomson Financial) - British Airways declined to confirm press reports it is planning a joint bid for Iberia Lineas Aereas de Espana SA with Texas Pacific Group and a group of Spanish risk capital groups.Spanish newspaper Expansion, citing unnamed sources close to the talks, said the British flag-carrier will make an announcement on the alliance in the next few days, and will make a definitive bid and ask to see Iberia's books within the next the fortnight.BA and TPG are currently in talks with Spanish risk capital funds Vista Capital and Ibersuizas, amongst others, to join with the bid, Expansion added.BA reiterated that it is in discussions with a 'number of private equity companies' about making a potential consortium offer for Iberia. However, it would not confirm how far advanced the talks are or whether an announcement is imminent.The British company, which owns 10 pct of Iberia, ruled out making an independent bid for the Spanish carrier last month.Iberia is the target of a 3.6 eur per share bid from TPG, while recent reports have also pointed to other possible bids from Banco Bilbao Vizcaya Argentaria SA's private equity arm Valanza or UK risk capital group Apax Partners.tfn.europemadrid@thomson.comped/jdy/slj/ps/nesCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
BA moves to avoid conflicts of interest at Iberia 