Then, to confuse matters further, Spain’s El Pais comes out with this at around 10am UK time on Thursday:
El consejo de administración de Iberia se reúne hoy de forma extraordinaria para decidir la fusión con British Airways, según fuentes conocedoras de la operación. A falta de cerrar algún fleco menor, en unas horas se anunciará o bien la fusión o, algo mucho más improbable, el carpetazo a la misma.
For non-Spanish speaking readers this says that Iberia’s supervisory board is meeting today to decide on a merger with BA, according to those “sources” familiar with the situation. The article goes on to say that, last minute hitches aside, the merger will be announced in a few hours - or, much less likely, the talks will be terminated.
The exchange ratio for the merger, according to El Pais, has been established at 45:55 Iberia to British Airways.
RNS Number : 4097C
British Airways PLC
12 November 2009
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IBERIA MERGER TALKS
Further to recent market speculation, British Airways confirms that the British
Airways and Iberia Boards are holding separate meetings today, 12 November, to consider a potential transaction. However, no decisions have been taken and, at this time, there can be no guarantee that a transaction will be forthcoming. A further announcement will be made in due course, if appropriate.
Yes, it will be a great cultural fit!
