MADRID — Rumours of a takeover bid by British Airways for Spain’s national airline Iberia caused shares to soar on Friday.

Shares in Iberia rose 10 cents to EUR 2.37.

A spokesman for the airline said it was unaware of any bid.

British Airways, Europe’s third-largest carrier, controls 10 percent of Iberia and the two airlines jointly manage routes between Spain and the U.K.

Iberia is a member of Oneworld, an alliance led by British Airways and American Airlines, the world’s biggest carrier.

Shares rocketed to a new record as Spain’s Ibex exchange marked its 175th anniversary on Friday.

[Copyright EFE with Expatica]

Subject: Spanish news