27th Nov 2007 07:01
British Airways PLC27 November 2007 BA TPG CONSORTIUM WITHDRAWS The British Airways and TPG consortium have confirmed they have formallywithdrawn their interest in bidding for Iberia. In a letter to the Iberia board the consortium said: "As a consequence of the recent decision taken by Iberia's core shareholders,the consortium formed by British Airways, Ibersuizas, Quercus, TPG and VistaCapital, has come to the conclusion that it is not possible to pursue apotential takeover bid since the consensus and friendly terms that we consideredessential for this Project are no longer in place. We have thus decidedunanimously to withdraw our indication of interest for the Company." Ends November 27, 2007 119/KG/07 Certain information included in these statements is forward-looking and involvesrisks and uncertainties that could cause actual results to differ materiallyfrom those expressed or implied by the forward looking statements. Forward-looking statements include, without limitation, projections relating toresults of operations and financial conditions and the Company's plans andobjectives for future operations, including, without limitation, discussions ofthe Company's Business Plan programs, expected future revenues, financing plansand expected expenditures and divestments. All forward-looking statements inthis report are based upon information known to the Company on the date of thisreport. The Company undertakes no obligation to publicly update or revise anyforward-looking statement, whether as a result of new information, future eventsor otherwise. It is not reasonably possible to itemize all of the many factors and specificevents that could cause the Company's forward looking statements to be incorrector that could otherwise have a material adverse effect on the future operationsor results of an airline operating in the global economy. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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