Iberia: Another step forward in the merger process with British Airwys
22-Sep-2010 Today Iberia notified the CNMV [Spain's Securities Market Commission] of the decision by the Board of Directors at its meeting on September 22nd not to exercise its right to cancel the Merger Contract with British Airways in relation to the agreement reached between the latter and the trustees of its pension funds.
This decision represents another step forward in the merger process, which will be completed when the Shareholders General Meeting takes place, expected in November.
Relevant Fact
Further to the notices of material fact served on November 12, 2009, April 8, 2010 and June 29, 2010 and in connection with the integration between IBERIA, LÍNEAS AÉREAS DE ESPAÑA, S.A. and BRITISH AIRWAYS PLC pursuant to the Merger Agreement dated April 8, 2010, notice is hereby served of the fact that, at its meeting held on the date hereof, the Company's Board of Directors resolved not to exercise its right of termination under the aforesaid Merger Agreement in connection with the final agreement reached between BRITISH AIRWAYS PLC and the trustees of their pension funds.