Iberia gets delayed on bid to March report
Published: 30/05/08
Iberia Airlines who operate flights to Barcelona and other key european destinations are eagerly awaiting a bid from the French airline, Air France. But Air France are said to be waiting until Spains March elections are over before they make a bid. This decision has been made because Air France have said that no government likes to have such a big takeover right in the middle of elections.
Although, Monday is going to be a key day in the battle for Iberia Airlines as British Airways and TPG will decide whether they will proceed with their bid to take over the airline of 3.4 million Euros (USD5.07 billion).
The Spanish investment vehicle Gala Capital as well as Bank BBK and the chairman of Spanish airline Air Europa, made a bid for Iberia Airline over two weeks ago at 3.60-3.90 euros per share.