IAG to offload Norwegian Air stake after bids fail
Willie Walsh, CE of IAG, has said it is looking to sell its shares in Norwegian Air after failing to negotiate a takeover. IAG bought 4.6% of Norwegian this year as a prelude to discussing a takeover, but had two proposals rebuffed. Walsh said: “We’re not going to keep the shares, we’re not an investor. We bought that small stake to initiate a conversation and if that conversation is not going anywhere, as it’s not, we’re not going to hold on to those shares.” Norwegian has said it has received several expressions of interest from “serious players” including rival airlines such as Lufthansa Group. “We are happy to have IAG as an investor. Needless to say, they are not the only interested party that has approached us,” said Bjorn Kjos, the carrier’s CE. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-08-06/oneworld/iag-to-offload-norwegian-air-stake-after-bids-fail
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IAG to offload Norwegian Air stake after bids fail
Willie Walsh, CE of IAG, has said it is looking to sell its shares in Norwegian Air after failing to negotiate a takeover. IAG bought 4.6% of Norwegian this year as a prelude to discussing a takeover, but had two proposals rebuffed. Walsh said: “We’re not going to keep the shares, we’re not an investor. We bought that small stake to initiate a conversation and if that conversation is not going anywhere, as it’s not, we’re not going to hold on to those shares.” Norwegian has said it has received several expressions of interest from “serious players” including rival airlines such as Lufthansa Group. “We are happy to have IAG as an investor. Needless to say, they are not the only interested party that has approached us,” said Bjorn Kjos, the carrier’s CE. <br/>
