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Thursday, November 12, 2009
British Airways, Iberia Reportedly Closer To Deal
By Sarah Turner
MarketWatch Pulse
LONDON -- British Airways shares jumped 5.3% in London and Iberia shares rose 6.2% in Madrid amid reports that the two companies are moving closer to a merger. According to the Times (of London) newspaper, British Airways said late Wednesday that "talks are continuing." British Airways CEO Willie Walsh is expected to become CEO of the merged group while Iberia's chairman Antonio Vazquez Romero would become chairman of the group, according to the report. A deal would cap 16 months of negotiations.
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