[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 23 April 2007, 06:49 GMT 07:49 UK
BA considers Iberia takeover move
Iberia planes
Interest is mounting in Spain's flagship carrier
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.


SEE ALSO
Lufthansa mulls Iberia bid move
15 Apr 07 |  Business
Iberia receives takeover approach
30 Mar 07 |  Business
Iberia in Peru 'prejudice' case
27 Nov 06 |  Americas
Iberia hit by rising fuel costs
02 Aug 06 |  Business
Iberia pilots end strike action
12 Jul 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific