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20 October 2006
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