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EasyJet shares fall as FL Group sell stake
The parent company of Icelandair, FL group, has sold its 16.9% stake in easyJet, driving down the value of the low cost carrier by 11%.
But the Reykjavik-based firm admitted it had been interested in raising its stake before finally deciding to end its investment.
FL Group chief executive Hannes Smarason denied however that it had been in formal negotiations with easyJet founder Stelios Haji-Ioannou.
“Though we had been interested in raising our stake, it would be going too far to say we reached an impasse with Stelios,” he said. “We were not in formal negotiations with Stelios.”
He added it was clear Stelios “has ambitions for his airline” and is “not a seller at a low price.”
FL Group sold its stake for around £230 million, realising a profit of nearing £100m on its original investment.
EasyJet’s shares fell to 318p on news of the sale.
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