Iberia's Deputy-CEO Mr. Blesa ask Lufhansa to enter Iberia's Capital as soon as possible .
The public declaration was made last Thurday during the commemoration of the 80th anniversary of Iberia .
"In comments to journalists during an event celebrating the 80th anniversary of Iberia's maiden flight,
Blesa appeared to encourage a move from Lufthansa.
"Iberia is not expensive at this price, we also bought at this price (3.60 euro/share).
(They should) get on with it", he said."
http://www.reuters.com/article/rbssI...L1318120071213
"They" are Luthansa.
http://www.ft.com/cms/s/2/19fc2952-a...0779fd2ac.html
Originally Posted by
al200
Core Shareholders
BA and AA 9.95%
Caja Madrid 9.63%
BBVA 7.03%
Logista 6.45%
El Corte Inglés 2.89%
Other Spanish banks
Caja Madrid has adquired BBVA and Logista stakes on Iberia , reaching a 23% stake on IB , making Caja Madrid the de facto ruler on IB.
British Airways had the right to first refusal and get the shares but didn't exercise it's option . Obviously BA had no interest in Iberia apart from trying to prevent it from joining LH.
Caja Madrid has given BA an ultimatum regarding Iberia : either you get involved in Iberia or we will open the door to Lufthansa .
A decisive Caja Madrid- BA meeting was announced last week by Mr. Blesa , Caja Madrid's President, for this week Dec 17-21 .The consensus is that BA will sell it's 10% .
In the meanwhile Caja Madrid has asked Lufthansa to enter Iberia NOW .
http://www.reuters.com/article/rbssI...L1318120071213
"Blesa quiere cambiar de socios estratégicos en una Iberia española: Lufthansa en lugar de British "
In english ,"Blesa wants to change strategic partners on Spanish Iberia:
Lufthansa instead of British Airways"
http://www.cotizalia.com/cache/2007/...os_iberia.html
In the next 2-3 weeks it's expected TPG to make a formal bid . When the first formal bid will be launched , in the next 30 days additional bids should be made , the Lufthansa bid plus perhaps some last minute surprise .
By the end of May , beginning of June the winner will be know , but few people here doubts that it will be Lufthansa plus a new Spanish Investor.
The process was delayed because a change on the Spanish adquisition laws , the new one entered into force on August 13 , and the credit crisis that started in August .
Numbers also favors the LH option for IB .
It's obvious .
LH will not get a large stake on IB , because there are several Spanish firms interested on making an "exclusion bid" for Iberia and make Iberia a private company
"Caja Madrid escucha ofertas para lanzar a Iberia una opa de exclusión"
http://www.expansion.com/edicion/exp...o/1069310.html
BA show lack of commitment for the Oneworld alliance . BA flights to Spain wouldn't move to new T5 at LHR , plus multiple others examples .
Since WW took over BA , it was evident the lack of interest .
But now Caja Madrid is determined to expell BA and replace BA with LH.
By the way , Caja Madrid has said that
Air France is NOT an option because the conflict of interest with AF LatAm routes .
IB people told me that IB will be a full right member of Star Alliance by May 2008.
The new USA routes announcement are frozen until the situation is resolved
It makes much more sense for IB an alliance with LH than with BA .
No doubt