British Airways joins bid for Iberia
British Airways issued a statement today saying it has joined with TPG Capital, Vista Capital, Inversiones Ibersuizas and Quercus Equity to investigate a possible consortium offer for Iberia.
BA noted there is no guarantee that a formal bid will be made. It also said it had previously ruled out further capital investment as part of any consortium offer and will not make an independent bid for the airline.
BA has a 10 percent stake in Iberia and manages flights between the United Kingdom and Spain with Iberia.
TPG said March 30 it was considering a $4.6 billion bid for Iberia.