Iberia Board Doesn't Reach Decision On BA Merger Plan
26 March 2010 - 1:16AM
Dow Jones News
The board of Iberia Lineas Aereas de Espana SA (IBLA.MC) didn't
reach an expected agreement Thursday to approve a planned merger
between the Spanish carrier and British Airways PLC (BAY.LN).
"There wasn't a decision today and the board will keep working
on the plan," an Iberia spokeswoman said.
BA and Iberia signed a memorandum of understanding to merge in
November and have said they would approve the deal in the first
quarter of this year.
The merger talks began in July 2008 and last year's memorandum
of understanding set out that BA shareholders will take 55% of a
new joint company and Iberia shareholders will take the remaining
45%.
Company Web site: www.iberia.com
-By Jason Sinclair, Dow Jones Newswires; 34 91 395 8127;
jason.sinclair@dowjones.com