24th Jan 2019 12:38
LONDON (Alliance News) - International Consolidated Airlines Group SA confirmed on Thursday it will not be making an offer for Norwegian Air Shuttle ASA.
In April 2018 IAG, which owns the British Airways, Iberia, and Aer Lingus airlines, opened a minority investment in budget airline Norwegian Air with an eye towards a potential full takeover of the firm.
Norwegian Air subsequently rebuffed a number of takeover approaches from IAG.
On Thursday, IAG confirmed it "does not intend to make an offer" for Norwegian Air. The firm added "in due course" it would look to sell its 3.9% stake in Norwegian.
Shares in IAG were 1.2% higher at 638.60 pence on Thursday.
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