Caja Madrid says not 'actively' involved in bid for Iberia |
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Published
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Fri, 25 May 2007 11:49
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MADRID (Thomson Financial) - Caja Madrid said it is not actively involved in bidding for Iberia Lineas Aereas de Espana SA and remains open to the possibility of selling its 10 pct stake in the airline to a suitable bidder.A company spokesman said Caja Madrid 'has no active role in the bidding for Iberia.'He added that the company will decide on what to do with its 10 pct stake in the airline after a formal offer has been submitted to regulators.'At that point the board will study it and decide,' he said.Market rumours have linked the savings bank with Banco Bilbao Vizcaya Argentaria and Gala Capital as possible partners to prepare a bid for the airline to rival a pending bid from a consortium led by Texas Pacific Group.Apax Partners, also reported to be in talks with Air France-KLM and Deutsche Lufthansa AG about a takeover of Iberia, said it has 'no comment,' on any potential tie up.Meanwhile, an Iberia spokeswoman said that it has not officially received any other offer apart from the interest from TPG.'There has been no other offer apart from the one we have already acknowledged,' she said. 'If (another offer) is being prepared, we don't know about it.'Yesterday Iberia said it had received notification of a possible bid from a consortium consisting of BA, TPG Capital, Vista Capital, Inversiones Ibersuizas and Quercus Equity.tfn.europemadrid@thomson.comccs/cve/rfwCOPYRIGHTCopyright 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.
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