Evening Standard: BA in talks with IB

Old Oct 2, 03, 11:13 am
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Evening Standard: BA in talks with IB

Shouldn't come as a surprise (has it been reported before?)

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Old Oct 2, 03, 11:38 am
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10:07 02Oct2003 RTRS-Iberia plays down meeting with BA <BAY.L> board

MADRID, Oct 2 - Spanish airline Iberia <IBLA.MC> said it was hosting a dinner for the board of British Airways Plc <BAY.L> on Thursday, but the meeting was not called specifically to discuss the merger of two major rivals.
This week's news of a planned takeover by Air France <AIRF.PA> of KLM <KLM.AS> boosted Iberia shares on Wednesday because of speculation that BA would now merge with Iberia.
The British carrier failed several times to take over KLM, and analysts said the French-Dutch merger made it more likely BA would now turn its attentions on Iberia.
BA already owns nine percent of Iberia, and the two are partners in the broader oneworld alliance of airlines founded by BA and AMR's American Airlines <AMR.N>.
Iberia's shares were up 1.06 percent at 1.90 euros at 0905 GMT, having earlier risen as high as 1.94 euros. The stock has climbed over 34 percent so far this year. BA shares were unchanged at 171-1/2 pence.
A spokeswoman for BA said its board routinely met outside the UK and would do so in Madrid on Thursday.
"It just happens to be in Madrid," she said.
Iberia said that if the BA board was in town, it was natural to offer an invitation to its partner.
"There are meetings of working groups at different levels all the time...Today's dinner is a social engagement which was planned some time ago," an Iberia spokeswoman said.
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