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British Airways
has purchased American Airline's remaining stake in Iberia which amounts to around
1% of Iberia's issued share capital for approximately 19 million euros (or £13 million).
This now takes BA's total share holding from some
9 to 10%. The transaction is intended to preserve British Airways' two seats on the
Iberia board.
The
two airlines made their original investment in Iberia in 1999 though a holding company. BA owns 90%
of BA & AA Holdings Limited, which in turn currently owns around 10%
of Iberia.
See
other recent news regarding:
Airlines,
American
Airlines, Iberia,
British
Airways
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