Reuters sayt that Texas Pacific Group (TPG) which is a member of the consortium bidding to buy Qantas has offered $US4.5 billion bid Madrid based Spanish national carrier Iberia, in a move which could trigger other bids for the Spanish airline.
TPG’s offer, which is $US4.8 per share will be studied by Iberia officials within 30 days with a possible extension of further 10 days following that period.
Last year, Iberia carried 27.8 million passengers, with a 19% share of the Europe-Latin America market, with the company is increasingly focusing on this more profitable area, rather than Spain and Europe, where it faces fierce competition.
Reuters says that it is worth mentioning that Iberia is 10 percent owned by British Airways.
Report by The Mole
