May 14, 2007

BA under pressure from Iberia bid partners

Private equity interest in airlines has continued following the failed bid for Qantas with EXAS Pacific Group and Apax renewing their efforts to secure backing by British Airways in a takeover bid for Iberia.

BA already owns 10 percent of the Spanish airline but has ruled out making a bid on its own. Instead, the UK carrier will tie up with one of the consortiums in what could be a bid worth US$1.3 billion.

A decision could be made tomorrow.


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